The Government has increased the rental concessions for eligible tenants of its premises to alleviate pressure arising from the COVID-19 pandemic on businesses, Secretary for Commerce & Economic Development Edward Yau said.

Mr Yau today told lawmakers that while appealing to landlords in the private sector to offer rental concessions to their tenants, the Government has led by example by proactively offering rental concessions to eligible businesses or organisations operating in government premises and other related properties.

From April to September, the Government has increased the rental concessions for eligible tenants from 50% to 75%, and extended the measure’s scope to cover more businesses.

As for the businesses which have to completely cease operation due to anti-epidemic measures imposed by the Government, they will receive a full rental waiver during the closure period.

Mr Yau pointed out that public bodies, including the Airport Authority, the Housing Society, the Mass Transit Railway Corporation and the Urban Renewal Authority have followed suit.

He said the Chief Executive and other government officials will continue to appeal to the real estate sector that, as landlords, they should ride out the difficult times with their tenants together.

He explained that apart from rental concessions, the Government has strived to lower operating costs for enterprises.

“The Government has announced a series of measures in the Budget and the two rounds of Anti-Epidemic Fund, including waiving of profits tax, rates for non-domestic properties and business registration fees, subsidising electricity charges, and reduction of water and sewage charges, etc. These measures aim to benefit enterprises from different sectors and of all sizes.”

The Government will monitor the pandemic development and economic situation, and keep in close contact with various sectors to provide timely support with the goal of reviving Hong Kong’s economy, Mr Yau added.