Government provides financial assistance to PMQ tenants and cinemas
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"Tenants of PMQ have been suffering from unprecedented pressure in recent months amidst the COVID-19 epidemic, which led to cancellation of multiple creative events and a sharp decrease in the number of visitors. The financial assistance will help to relieve the business pressures of PMQ tenants during this challenging time," a spokesman for the Commerce and Economic Development Bureau said.
During the said period, rentals and fees payable by creative industries-related tenants, which make up the vast majority of PMQ's tenants, will be waived in full, and those payable by other tenants will be reduced by 75 per cent. A total of 107 tenants will stand to benefit.
The Government has also rendered support to the cinemas under the AEF by providing a one-off subsidy of $100,000 per screen to each cinema licensed as a place of public entertainment with commercial operation in March 2020. The maximum subsidy for a cinema circuit is $3 million. As at the application deadline on April 30, Create Hong Kong has received and finished processing applications from all eligible cinema operators (operating a total of 59 cinemas). Funding will be disbursed in the next two weeks.
Ends/Friday, May 1, 2020
Issued at HKT 9:00
Issued at HKT 9:00
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