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
Economy

China to ease rent burden on small service-sector firms

May 11, 2020


Abstract : China announced Saturday rental reductions or exemptions for small and self-employed businesses in the service sector, which were reeling from weak consumer spending during the COVID-19 epidemic.

BEIJING, May 9 (Xinhua) -- China announced Saturday rental reductions or exemptions for small and self-employed businesses in the service sector, which were reeling from weak consumer spending during the COVID-19 epidemic.

The rent relief aimed to support epidemic-hit micro- and small companies and self-employed businesses, especially in the sectors of catering, accommodation, tourism, education, housekeeping, theater and hairdressing, according to a plan jointly issued by the National Development and Reform Commission and seven other departments.

The country vowed a three-month rent exemption in the first half of the year for such companies renting state-owned properties, and encouraged lessors of non-state-owned properties to offer such rent relief or delay rent collection, according to the plan.

It also urged state-owned financial institutions to extend pledge loans at concessional rates to such lessors according to their needs.

The country has unveiled a slew of measures to support small businesses, including increasing lending, lowering financing costs and offering tax breaks, to help them tide over the hard times. Enditem

Scan the QR code and push it to your mobile phone

Keyword: service industries rent

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