The Guangdong provincial government announced 12 incentive measures in a bid to boost Guangdong's market vitality and accelerate the development of a modern industrial system at a press conference on May 12. These measures include new rewards of up to 8 million yuan for multinational companies establishing regional headquarters or R&D centers in Guangdong.
Reducing operational costs for multinational and domestic businesses
Building on existing foreign investment incentives, the measures introduce new rewards for multinational companies establishing regional headquarters and R&D centers in Guangdong. Multinational companies setting up China regional headquarters, Asia-Pacific headquarters, or divisional global headquarters will receive one-time rewards of up to 8 million yuan. Foreign R&D centers that meet recognition criteria will receive one-time grants of up to 1 million yuan, with an additional 5 million yuan reward for global R&D centers.
Zhang Jinsong, Director General of the Department of Commerce of Guangdong Province, highlighted that the measures are designed to offer comprehensive support for businesses operating in Guangdong, extending a warm invitation to global enterprises to capitalize on Guangdong's new policy opportunities, invest in the province, and achieve growth amid Guangdong's high-level opening-up and high-quality development.
To alleviate financial pressures on enterprises, the measures include interest subsidies for bank loans taken by manufacturing and high-tech companies. The provincial government will cover up to 35% of eligible annual bank loan interest, with a maximum annual subsidy of 200 billion yuan. Additionally, the government aims to expand financing guarantees to exceed 100 billion yuan annually, providing substantial support to businesses.
The measures provide full life-cycle support for enterprises, from investment attraction to project implementation. This includes establishing a trillion-yuan-scale industrial investment and venture capital fund, ensuring land resources for major manufacturing projects, and attracting high-caliber talent.
Policy framework to stimulate market dynamism
Guangdong Province, China's economic powerhouse, boasts over 19 million market entities and 8.35 million enterprises. The newly introduced measures aim to further stimulate market vitality and accelerate the construction of a modern industrial system, outlining 12 key policy directions.
These include fostering emerging industries, reducing financing costs for manufacturing and high-tech enterprises, strengthening industrial funds, expanding application scenarios, enhancing support for headquarters, encouraging foreign R&D centers, ensuring land resource allocation, reinforcing environmental protection, attracting innovative talent, improving enterprise services, safeguarding the rights of businesses and entrepreneurs, and boosting investment incentives.
Zhang Jinsong emphasized that these measures aim to cultivate new productive forces by focusing on key sectors such as integrated circuits (IC), artificial intelligence (AI), robotics, autonomous driving, low-altitude economy, biomedicine, quantum technology, commercial spaceflight, new energy storage, new energy vehicles (NEVs), digital economy, and modern marine ranching.
The measures encourage targeted recruitment and investment attraction in these areas, aiming to nurture leading enterprises and high-growth firms that will further solidify Guangdong's industrial base.
Reporter | Guo Chuhua
Photo | Southcn.com
Editor | Hu Nan, James, Shen He
