Recently, the Beijing Municipal Government issued measures to support small, medium and micro enterprises and help them in difficult times. These measures are expected to benefit more than 1.6 million SMEs and micro enterprises with a total amount of about 130 billion yuan ($19.15 billion).

These measures propose to increase the deduction ratio of R&D expenses for small and medium-sized technology enterprises to 100 percent; encourage various industrial carriers such as incubators and science parks to provide rent concessions in the form of direct reduction or exemption, refund, and contract extension. 

In terms of increasing financial support, these measures encourage commercial banks to open up green credit channels for outstanding enterprises, and launch exclusive credit products. Eligiblemall and micro enterprises can also receive scientific and technological innovation vouchers, and ease expenses for enterprises to purchase services such as analysis, testing, and inspection using such vouchers. 

According to statistics, in 2021, the Economic and Technological Development Area (BDA) cashed out 3 million yuan for 93 enterprises and directly leveraged 30 million yuan in technical service transactions.

A glance at Dazu Plaza [Photo/kfqgw.beijing.gov.cn]

In addition, the BDA has launched the "Innovative Growth Plan" and "Innovation Partnership Plan" special award. For qualified enterprises or service organizations, their rent in 2021 will be subsidized based on the standard of 1.5 yuan every square meter per day. 

Dazu Plaza has successively introduced high-quality projects by providing capital, technology service connection and other support. In the first quarter of this year, more than 20 new contracted enterprises were registered here.