The Capital Cultural Industry Association (CCIA) and 70 cultural industry parks in Beijing jointly launched an initiative to reduce rents for tenants -- in a recent response to the impact of the novel coronavirus pneumonia epidemic on the cultural and creative industry -- according to CCIA officials.

According to local officials, the CCIA sent out the notice to 99 cultural industry parks in Beijing on reporting rent reductions for micro, small and medium-sized cultural enterprises based in the parks.

According to the feedback from 86 cultural industry parks, a total of 126 million yuan ($18.01 million) has been allocated to supporting the plan.

Officials said the total number of enterprises settled in these parks is 9,942, with an average occupancy rate of 80 percent.

As of Feb 18, 70 of these 86 parks had voluntarily followed through on the initiative together with the CCIA.