A TOTAL of 50 headquarters enterprises are on a list of companies being rewarded and subsidized for their contributions in the year 2019, sources from the Shenzhen Municipal Development and Reform Commission showed.

Among them, Arm China will be rewarded 20 million yuan (US$2.82 million) for setting up its headquarters in Shenzhen. Twenty-nine of those listed will be rewarded for their contributions and 30, including some that will be rewarded for contributions, will receive rental subsidies.

In Shenzhen, according to its incentives to develop a headquarters economy, four types of headquartered enterprises can receive support from the government, a Shenzhen Economic Daily report said.

The companies include those that have been registered in the city for more than one year and whose business revenue or industrial scale is no less than 2 billion yuan and have played a role in increasing local tax revenue by more than 40 million yuan, or those companies whose revenue was no lower than 1.5 billion yuan and played a role in increasing local tax revenue by more than 60 million yuan, or whose revenue was no less than 1 billion yuan and played a role in increasing local tax revenue by 80 million yuan.

Companies that meet the requirements for three straight years can apply for rewards for contributions. The top prize of the reward is set at 20 million yuan.

For companies that have been registered in the city for no more than one year, but at a registered capital of no less than 500 million yuan, they will receive support from the government as long as their parent companies, whose total assets and business revenues were no less than 10 billion yuan in the previous year, had signed an agreement with the Shenzhen government and promised to ensure their business revenue in the city will reach 5 billion yuan and played a role in increasing local tax revenue to 60 million yuan.

The rule also applied to enterprises that moved from outside of Shenzhen. Such enterprises will be rewarded 10 million yuan for relocating to Shenzhen.

For enterprises having no self-owned offices or properties, the government will offer up to 50 percent of the rent as a subsidy for no more than five years. The subsidy is no more than 1.5 million yuan a year. For those enterprises that purchase property, the city will offer subsides at 10 percent of the purchasing prices, or no more than 50 million yuan. (Richard Han)