On Tuesday, Beijing's Fengtai district launched a new batch of initiatives that include a 500-million-yuan special fund for relieving difficulties of SMEs and restoring them to full capacity. The ten policies also include further rent reduction and exemption, supporting innovation eco-system, and employment aid, all aimed to help SMEs to return to stable growth amid the COVID-19 epidemic. 

The special fund targets SMEs with high potential in rail transit, aerospace, and other fields. The allocation of fund will be carried out via equity share, debt, and other means.  

In addition to state-owned enterprises, district public housing is also encouraged to offer rent reduction and exemption for SMEs, and the period of assistance has also been extended. The list of entities who can apply for the help is extended to include private kindergartens, public cinemas, brick-and-mortar bookstores, sports venues, etc.

To intensify the support for innovating and developing industrial eco-systems, the new initiatives encourage commercial buildings, technology business incubators, maker spaces, cultural industrial parks, and other property owners to reduce or exempt rent for SMEs. They also encourage leading enterprises and state-owned enterprises to open space and application scenarios for SMEs along the industrial chain, so as to synergize the innovative development of the industrial chain. 

Regarding the support to commerce and consumption, the district government is promoting the integrated consumption of cultural, tourism, and sports businesses. Supporting measures such as issuing operating subsidies and reducing operating costs will be implemented to aid the development of convenient community stores, brick-and-mortar bookstores, and cultural and tourism industries.

Regarding employment aid, "Fengtai Employment Service Platform" and "Employment Market" have been given full play with the launch of "cloud-based" employment events to help SMEs to recruit new employees.

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