This year, Nanshan District has further strengthened its support of local enterprises by increasing the special funds for independent innovation and industrial development to a historical high of 1.42 billion yuan (US$221.72 million), an increase of 30.7 percent year on year, according to a launch event Thursday.
Centered on the development strategy of “headquarters economy + technological innovation” and the key industrial fields, the funds aim to subsidize qualified enterprises and institutions in the district. It is estimated that more than 5,000 projects will benefit from the funds.
“The rapid development of Nanshan’s economy is inseparable from the government’s policy guidance and support. With its strong performances in economy, science and technology and innovation, Nanshan is a promising place for enterprises to grow and prosper in Shenzhen,” said Lian Cong, deputy head of the Nanshan District Government, during the launch event.
To provide first-class services for enterprises, the district government has continuously strengthened its support of industrial development, increased the amount of special funds on a yearly basis and expanded the coverage of beneficiaries, said Lian.
The district issued the latest regulations and details for the implementation of the special funds May 11. The new policies specify the categories, scopes and applications of the special funds.
In addition, the funds are further divided into seven sub-funds, covering the energy saving and emissions reduction, economic development, technological innovation, talent introduction, green architecture, cultural industry and financial development fields.
While highlighting its support for the headquarters economy, modern service industry and future industries, the new policies also add new articles that encourage enterprises to scale up their headquarters, support port development and provide assistance to listed companies in terms of office spaces.
Likewise, Futian District has also beefed up its support for industrial development and aims to offer up to 2 billion yuan in special funds this year, in a bid to nurture growth points for emerging industries and improve the accuracy and efficiency of financial support.
According to the revised policies released by the district, the special funds mainly cover nine areas, namely investment promotion, headquarters economy, financial industry, enterprise listing, modern service industry, advanced manufacturing industry, technological innovation, cultural industry, and the development of business associations.