Miao Xiaodong, general manager of a high-tech company in the Hefei High-tech Start-up Business Incubation Park, speaks highly of the rent reduction policy in an interview. [Photo/WeChat account: hefeigaoixnfabu]

The Hefei High-tech Start-up Business Incubation Park in the Hefei National High-tech Industrial Development Zone is working to cut rent costs for micro, small and medium enterprises (MSMEs) in the park.

The park will waive rent fees entirely for two months and only require businesses to pay half for the following two months to help them overcome difficulties caused by the COVID-19 epidemic.  

The park has been checking applications from enterprises online since March 25. According to its preliminary estimates, the rent saved by companies will exceed 54 million yuan ($7.61 million).

The park is the largest incubation park in Anhui province and home to more than 1,000 high-tech enterprises, all of which have resumed operations as of Feb 24. The preferential rent policy will last until June.

Miao Xiaodong, general manager of Hefei Fu Huang Agile Device, a high-tech company in the park, said the rent exemption and reduction policy will help save 130,000 yuan for the company, and the extra money will go toward the R&D of new products.

Miao said the policy is a great way to support work resumption. He also thanked the park for disinfecting buildings to prevent the spread of the virus.

The company boasts independently-developed high-speed vision systems, making it the only Chinese producer of high-quality high-speed cameras. It completed a national major project after resuming operation and is making an all-out effort for developing new products.

Within a period of just nine days, Anhui Tshing Link, another high-tech company in the park, developed AI temperature checking devices which can quickly take the temperatures of large groups of people. The products have been installed in many places in the city with large amounts of people, which has greatly helped in epidemic prevention and control efforts. 

Ni Xiuming, general manager of the company, said the quickness with which the product was developed was only possible thanks to the park's services and support. "Operators of the park often ask if we are experiencing any difficulties and will help us solve them."

Ni said the rent reductions will save 300,000 yuan for the company, and the money will be used in its innovative research to help achieve this year's sales goal of more than 100 million yuan.