（来源：上观新闻） 反之，不讲服务、不讲生态也不讲"精准滴灌"的，非但效果不彰，还可能让真正需要帮助的企业解不了 渴、并不怎么需要帮助的却占便宜，甚至催生出骗补、寻租的空间。 有一些地方的"零租金"声浪如今正在悄悄退去——再不改变，非但当地市场要失衡，园区乃至背后的政 府财力，也将捉襟见肘，甚至入不敷出。 此举初衷是要给企业降本减负，扶持中小特别是有潜质的初创企业，亦能为一些暂时陷入困境的园区、 楼宇吸纳人气。这些措施推行以来，有的地方渐成气候，有的集聚了一批活跃的创业者，积蓄起了创新 活力。 也有些地方，跟风而上，结果陷入"内卷"，甚至导向价格踩踏，一些原本并无条件免租、或经营尚可的 园区，也被迫卷入"租金价格战"，导致成本越推越高。 2025年末，有些一度盛行的做法，效果正在悄然分化。 再细看，"零租金"效果有好有坏，奥妙往往在"租金"之外。 比如招商引资，年初开始，国内多个地方纷纷上线"零租金"产业空间，由政府主导，吸引企业入驻。 效果好的，不仅有"免租"，更有精准适配相关企业的配套服务，着力点在产业生态的营造，"免租"本身 亦不是大水漫灌，有精准的对象、范围、期限。简而言之，"零租金"，更像是对初创企 ...

Core Insights - High-end office buildings in major cities are resorting to "rent-free" strategies to attract tenants due to rising vacancy rates and declining demand [1][2][3] - The current economic environment has weakened the demand for office space, particularly affecting private enterprises with lower risk tolerance [2][3] - Major cities are implementing rent-free policies to stimulate economic activity and attract talent, mirroring previous government strategies like consumer vouchers [3][4] Group 1: Market Conditions - Major cities like Guangzhou, Beijing, and Suzhou are experiencing office vacancy rates nearing or exceeding 20%, leading to significant rent declines [1][2] - The oversupply of office space is partly due to past real estate practices where commercial land was converted into office buildings, creating a mismatch in supply and demand [1][2] Group 2: Rent-Free Policies - Cities such as Suzhou and Guangzhou are offering substantial rent reductions, with Suzhou providing up to two years of rent-free space for qualifying businesses [4][5] - The rent-free initiatives are primarily targeting strategic emerging industries, ensuring that only high-potential companies benefit from these incentives [6] Group 3: Competitive Landscape - The "zero rent" policy has sparked a competitive environment among cities, with neighboring regions enhancing their offerings to attract businesses [7] - Despite concerns about potential "internal competition," the rent-free policies are seen as a means to enhance long-term competitiveness rather than merely providing cash flow support [8]

Core Concept - The emergence of "zero rent" policies in major Chinese cities, driven by local governments and state-owned enterprises, aims to attract innovative startups and enhance urban economic development [2][4][5] Group 1: Zero Rent Policies - Shenzhen initiated a "zero rent" policy allowing qualifying small and micro tech enterprises to occupy 100,000 square meters of state-owned industrial park space with up to two years of rent-free occupancy [4] - Hangzhou's Qiantang Smart City announced a three-year rent exemption for its 20,000 square meter robot industrial park, with individual companies eligible for up to 1,000 square meters [4] - Guangzhou and Shanghai followed suit, with Guangzhou offering 150,000 square meters of zero rent space and Shanghai providing free office and living spaces for young entrepreneurs [5][6] Group 2: Competitive Landscape - The competition among core cities for high-quality industries and innovative projects is intensifying, with cities adopting aggressive incentives to attract startups [7][8] - Cities are focusing on strategic emerging industries such as intelligent connected vehicles, biomedicine, and artificial intelligence to draw in innovative enterprises [8][9] Group 3: Implications of Zero Rent - The "zero rent" initiative is viewed as a form of risk investment by local governments, potentially leading to future tax agreements or equity stakes in startups [9][10] - Guangzhou is exploring new models like "rent + equity" to support the growth of innovative projects, indicating a shift from traditional rental management to a more integrated service approach [10]

Core Viewpoint - The "zero rent war" across China's industrial parks is a response to rising vacancy rates, with cities implementing various policies to attract businesses, but the hidden costs and complexities behind these policies raise questions about their effectiveness [1][5][8]. Group 1: Policy Implementation - Major cities like Shanghai, Shenzhen, and Beijing have introduced unique zero rent policies to attract businesses, with Shanghai offering three years of zero rent followed by two years of reduced rent [3][4]. - Shenzhen's "gradient rent exemption" allows companies to enjoy two years of full exemption and a 50% reduction in the third year, leading to over 200 tech companies benefiting from savings exceeding 50 million yuan [3][4]. - Other cities, such as Guangzhou and Chengdu, have also launched significant zero rent initiatives, with Guangzhou providing 150,000 square meters of industrial space for trial [3][4]. Group 2: Market Dynamics - The vacancy rate in Shanghai's industrial parks has reached 29.2%, with some areas in Shenzhen and Chengdu exceeding 30% and even 60%, indicating a challenging market environment [1][2]. - The zero rent policies are not merely about cost reduction but are part of a broader strategy to attract specific industries, focusing on emerging sectors like AI, biotechnology, and smart manufacturing [4][5]. Group 3: Competitive Landscape - The zero rent movement has sparked debates about whether it leads to healthy competition or detrimental practices, with some parks successfully leveraging these policies to boost local economies while others struggle with low occupancy and productivity rates [5][6]. - The effectiveness of zero rent policies is contingent on the ability of parks to provide additional support services and foster a conducive environment for business growth, rather than just offering free space [6][7]. Group 4: Future Implications - As more cities adopt zero rent policies, the marginal benefits of such incentives may diminish, shifting the competitive focus from rent prices to the quality of the ecosystem provided by the parks [8][9]. - The long-term success of these policies will depend on the parks' ability to transform space into innovation and growth opportunities, rather than relying solely on rental income [9].