2H 2020 Beijing Retail Sector (Asian Cities-Savills Research) 10 December 2020
Beijing government developed multiple plans to help boost the ‘First-Store’ economy, consumer demand and upgrade retail projects in response to COVID-19:
Beijing government developed multiple plans to help boost the ‘First-Store’ economy, consumer demand and upgrade retail projects in response to COVID-19:
- “Announcement to Stabilise Commercial Business Activities Under COVID-19” on February 21st, 2020, encourages shopping mall landlords to deduct rents and help major shopping malls operate during the pandemic by applying for working capital loans;
- “Announcement to Apply for Subsidies For Major Shopping Malls Under COVID-19” on March 31st, 2020, provides subsidies up to RMB500,000 to qualified shopping mall operators;
- “One Policy for One Retail Store” renovation/upgrading of pilot retail
