(Yicai Global) Feb. 3 -- JD.Com, Alibaba Group Holding, Suning.Com and other Chinese internet firms are reducing monthly rates and commissions for their merchants to help compensate the losses resulting from the coronavirus epidemic sweeping the globe.
JD announced yesterday that it would provide subsidies to 250,000 merchants, including free medical consultations for employees, reduced fees and extended deadlines for payments. It will cut all usage and service fees for merchants in Hubei for a month and provide insurance for up to CNY300,000 (USD42,840).
Alibaba's lifestyle services division is also scrapping commission for restaurants on its meal delivery platform Ele.me in Wuhan and is granting pneumonia-related insurance to customers and staff in Wuhan and the nearby areas. Sufferers will be able to claim up to CNY300,000 if they contract pneumonia from the novel coronavirus.
Brands partnered with Suning.Com's brick-and-mortar smart retailing plazas will also be exempt from rent for the period between Jan. 25 and Feb. 28, Suning Plaza Commercial Management said on Jan. 31.
Shared kitchen operator Panda Selected has provided thousands of medical masks for all merchants at its outlets and will cut rents for the period between Feb. 3 and Feb. 9.
Editor: James Boynton