Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Company

Wanda ups financial support for epidemic-stressed merchants

February 21, 2020


Abstract : Chinese commercial property giant Dalian Wanda Commercial Management Group Co., Ltd. has decided to ramp up support for its over 60,000 merchant partners to tide over the novel coronavirus outbreak.

BEIJING, Feb. 20 (Xinhua) --Chinese commercial property giant Dalian Wanda Commercial Management Group Co., Ltd. has decided to ramp up support for its over 60,000 merchant partners to tide over the novel coronavirus outbreak.

Merchants in the company's expansive and popular retail complex network Wanda Plazas can apply for delayed payments of rent and property management fees for March and April, the company said in a circular.

The new supportive policy came after the company, a branch of Wanda Group, decided earlier in January to waive all rent and property management fees of Wanda Plaza merchants from Jan. 25 to Feb. 29, 2020.

Meanwhile, Wanda will provide at least 10 billion yuan (about 1.43 billion U.S. dollars) of financing support with WeBank, an online bank backed by tech giant Tencent, for micro, small and medium-sized businesses in Wanda Plazas.

Almost all of the company's 300-plus Wanda Plazas across the country have reopened for business except for those in the hardest-hit Hubei Province, the circular said.

China's offline retail sector is among the hardest-hit by the epidemic as consumers stay away from crowded places. The government has called for combined efforts to help small retailers get over the short-term pains.

Scan the QR code and push it to your mobile phone

Keyword: Wanda property company amid epidemic

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial