Xia Yuanjie

szrbgracexia@126.com

STARTING from Saturday, Shenzhen will roll out a new round of government subsidies and incentives, the city’s commerce bureau announced Friday.

The measures are part of the rules for implementing 30 municipal policies for stable economic growth.

The government will continue to give rewards to help wholesale, retail and catering businesses expand their market shares during the pandemic.

As per the incentive program, eligible wholesalers and retailers will receive a 50,000-yuan (US$7,236.52) reward per 100-million-yuan sales increase year on year in the second half (H2) of this year. The maximum reward for a retailer or wholesaler must not exceed 5 million yuan.

Eligible catering enterprises will receive a 50,000-yuan reward for every 10 million yuan in turnover in H2, with a maximum reward of 1 million yuan per company.

To encourage brands to launch their first stores in Shenzhen, a maximum of 1 million yuan in rent and decoration subsidies will be offered for eligible domestic and prestigious overseas brands that open their first stores, flagship stores and new business stores in the city.

Eligible enterprises that have their debut shows in Shenzhen will gain up to 1 million yuan of grants to rent venues and equipment, set up stages and promote their events.

The city will also financially support the introduction of international well-known conventions and exhibitions. The one-off incentive for an eligible convention or exhibition is capped at 5 million yuan.

The measures will remain effective until the end of this year.