Zhongguancun Software Park to cut 70 million yuan in rent

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Zhongguancun Software Park will cut a total of 70 million yuan (US$10.4 million) in rent for companies in the park, including over 460 small and micro-sized enterprises amid the ongoing COVID-19 resurgence, according to the park authority.

As a state-owned enterprise, Zhongguancun Software Park has vigorously taken on its social responsibilities and implemented multiple supportive policies launched by the Beijing municipal government, the park authority said.

At present, the park has begun the process for reducing rent, including collecting and reviewing information of its tenants, and signing paperwork with small firms. For those qualifies enterprises, the park will ease their financial difficulties by exempting or refunding rents, as well as postponing rent collection. A total of 70 million yuan of rent is expected to be reduced for those companies, according to the park authority.

For the next step, the park will provide comprehensive services including personnel recruitment and financial technology support for small and micro-sized enterprises and individually owned businesses, in a bid to help them weather the pandemic and make greater contributions to economic growth, the park authority said.

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