State-owned enterprises in Zhejiang province have waived rent for their tenants over the past two months to help them survive the COVID-19 epidemic, saving tenant companies a total of 3.61 billion yuan ($507.02 million).

"Our company was hit hard by the sudden outbreak of the epidemic. The two-month rent waiver really helped us," said a representative of a tenant company in Hangzhou.

Wenzhou SOEs even offered a three-month rent waiver to their tenants, saving 13,469 companies nearly 417 million yuan.

The State-Owned Assets Supervision and Administration Commission of Zhejiang also published rent waiver policies on Zheliban, an online administrative service platform, and published hotlines on its official website to offer consultation services to companies.