Shenzhen urged to control industrial rents

Rising rents are in the Shenzhen government’s sights, as it has become obvious that tech and other innovation parks have been driving up costs for companies, especially SMEs, to unacceptable levels, according to local media.

A special report submitted to the Shenzhen government by a group of local deputies to the CPPCC cites cases of old industrial parks hiking their average rents from RMB20 per square meter to as high as RMB80 after changing their names into something “innovative” and doing some minor upgrades. 

The Shenzhen Municipal Science, Technology and Innovation Commission said in a response to the report that they will provide more affordable buildings for SMEs in high-tech zones to help reduce costs. 

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