The Wuhan Economic & Technological Development Zone (WHDZ) has supported the development of its resident enterprises during the novel coronavirus epidemic with rent reductions amounting to 80 million yuan ($11.29 million), according to officials in the WHDZ, located in Wuhan city in Central China's Hubei province.
Earlier in April, the zone’s finance bureau issued policies related to rent reduction and exemptions for companies during the outbreak.
State-owned enterprises based in the WHDZ that are landlords for other companies have actively implemented the policies.
Officials said this was to reduce the pressure on the production and operations of resident companies and individual industrial and commercial households caused by the epidemic -- and to help small and medium-sized enterprises overcome their difficulties.
For various market entities in the State-owned WHDZ residents in leased areas, the three-month rent was exempt from February to April and 50 percent of the rent will be charged from May to October.
