China
2019.10.12 22:43 GMT+8

Hong Kong MTR Corp and Airport Authority plan to offer rent cuts to retailers affected by protests

Updated 2019.10.12 22:43 GMT+8
CGTN

Hong Kong Special Administrative Region (SAR)'s Financial Secretary Paul Chan Mo-po has called for concerted efforts from the government and landlords to offer more relief measures and rent reductions to help the city's hard-pressed retailers.

Chan told a media briefing on Friday that railway operator MTR Corp, Airport Authority and some shopping mall owners have come up with proposals, ranging from promotional activities to temporary rent adjustments, to help the city's struggling retailers cope with four months of protracted social unrest.

"As an example, the MTR Corp will offer rental adjustment proposals to small and medium-sized enterprises which were affected to a relatively large extent," Chan said.

"If some stations or shopping malls have been forced to close, the businesses will be offered rent rebates proportionately. Tenants from retail and food and beverage sectors will benefit from this."

In August, the HKSAR government announced that a stimulus package of 19 billion Hong Kong dollars (2.42 billion U.S. dollars) will be injected into the local economy. It's comprised of a series of relief measures aimed at boosting growth. 

Read More: Hong Kong adds $2.4 bln in stimulus, slashes annual GDP growth forecast amid protests

(With input from China Daily)

(Cover image: The entrance to Central MTR Station was set ablaze by rioters, September 8, 2019. /CGTN Comic)

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