Paul Chan Urges Rent Cuts For Mall Shops, Eateries

The Financial Secretary, Paul Chan, has urged major landlords such as owners of shopping malls to cut rents for shops and caterers, as the two sectors have suffered badly during months of anti-government protests.

Chan said many companies cannot afford the expenditure in rents and wages, in view of a sharp drop in business.

He noted that the government had rolled out relief measures worth HK$19 billion to help struggling businesses and avoid job losses.

He pointed out that various statutory organisations, such as the Housing Authority, Science Park, MTR and Airport Authority, had also offered support in terms of rents.

He said the government also talked to owners of some big shopping malls, expressing the hope that they could help shops and caterers face mounting pressures during this difficult period.

Earlier this week, the Retail Management Association said it hoped the government could persuade all the big landlords to offer reductions in rent to help businesses. It said its members are experiencing a sharp drop in revenue due to frequent early closures and a lack of shoppers.

Catering professionals say around a hundred restaurants have closed over the past month, putting around 2,000 people out of work.