NANSHAN District has unveiled a package of incentives to promote the in-depth integration of finance and technology in Xili Lake International Science and Education City, as part of the district’s efforts to implement the strategic plan for the development of the science city.

By introducing the new measures, district officials hope to unleash the power of capital to serve basic research, technological progress and industrialization of technological achievements, Shenzhen Evening News reported.

Under the measures laid out in a document released recently, equity investment management enterprises that were registered in Nanshan and whose previous year’s comprehensive contributions exceeded 10 million yuan (US$1.57 million) will be awarded an amount that matches their contributions if they move their business to the science city.

Nanshan will also award newly established or moved-in equity investment enterprises in Xili Lake International Science and Education City 1 million yuan for every 50 million yuan invested (refinancing of listed enterprises excluded) in the district in the previous year. Each enterprise can be awarded at a cap of 10 million yuan and the awarding period will last for no more than three years.

To expand the science city’s influence, licensed financial institutions, key equity enterprises or well-known equity investment service agencies that organize national-level industry summits and forums at the science city will be given a one-time reward of 1 million yuan after verification.

Leading enterprises, well-known financial institutions or venture capital firms that set up incubators, entrepreneurial space gathering quality entrepreneurship enterprises and projects can receive up to 3 million yuan in subsidies for construction, operation and incubation services. They can also enjoy rent incentives if the facilities are built and operated on government properties.

The district industry development guidance fund will set aside a 500-million-yuan initial fund to offer support for the development of the science city, according to the News report.

(Han Ximin)