FROM alleviating the high cost of rent for industrial spaces to solving tough issues like corporate financing and attracting innovative talents, Futian has so far released five special policies this year, facilitating the high-quality economic development of its administrative areas.

Among the five policies, one involves the supply-side reform of the core commercial circle Shangbu, a subarea of the Huaqiang subdistrict, which will help build the area into a zone for international innovation and creativity by providing rent subsidies.

Huaqiangbei, nicknamed China’s No.1 electronic street, is the single largest-scale tech retail center in China. The recent policy marks the first time that the area has received special support from the Futian district government.

In recent years, as Huaqiangbei has recorded fast economic growth, it has also met challenges for further expansion, such as the high costs of rent for businesses and difficulties in attracting innovative teams and talents.

Chen Xiaozhong, secretary of the CPC work committee of Huaqiangbei subdistrict, said that those involved in the subdistrict’s development should focus on turning it into a world-class smart hardware research and development center.

Innovative entities including Seg Maker +, Huaqiangbei International Maker Center and HAX Accelerator have all settled in Huaqiangbei in recent years. The policies come as timely pick-me-ups for institutions such as these, increasing their confidence in the future of the area.

According to the rental space support policy, a third party, entrusted by the Futian Technology & Innovation Bureau, will carry out an investigation into the rental price of the property rented or owned by the operating agencies and subsidize 60 percent of the rent, which may reach 100 yuan (US$15.92) per square meter per month for the first year. The financial support will last for three years and the fund support will be settled every half year.

The person in charge of Seg Maker + said that the rent support helps alleviate the burden on operating agencies and benefits the projects that settle in Huaqiangbei.

The special policy targets the robotics, wearables, smart equipment, new-generation information technology and Internet of Things industries. (Chen Xiaochun)