The Qianhai authority has recently released a series of preferential policies offering rent subsidies of up to 5 million yuan (US$724,638) to enterprises that are relocated to the Qianhai area.
The policies, released June 17, were aimed at enticing enterprises to relocate to Qianhai and attract talents to work in the free trade area against the backdrop of building Qianhai into a new urban center of the Guangdong-Hong Kong-Macao Greater Bay Area. The subsidies are designed to help cover part of the rent for office spaces for the enterprises that have relocated to Qianhai and lower their operational costs.
According to the policies, enterprises headquartered in Qianhai, industry-leading companies, listed firms, financial companies like securities, funds and insurance firms, World top 500, China top 500 and unicorn enterprises will receive subsidies of 50 percent of their office rent with a cap at 5 million yuan, if these enterprises relocate to Qianhai in 2019.
The authority will pay 40 percent of the office rent for companies that return to Qianhai next year. The subsidies are capped at 4 million yuan.
Concerning other enterprises that return to Qianhai, the Qianhai authority will help them pay 30 percent of the office rent for three years in 2019, subsidizing each company with 3 million yuan. Companies that return in 2020 will each receive 2 million yuan over a three-year period as rent subsidies, or 20 percent of their office rent.
The Qianhai authority said it will work out further preferential policies to facilitate the economic development of the area, in addition to improving support facilities and services.
Public transport in Qianhai will be greatly enhanced after the extension of Metro Line 5 is put into service at the end of September and the extension of Metro Line 9 at the end of December.
Qianhai is now home to a number of important companies, including Ping An Smart City Solution Provider, a subsidiary of China Ping An, Qianhai Mercantile Exchange, Shenzhen Intellectual Property Protection Center, UBS Asset Management, Qianhai Institute of Financial Management and Pricewaterhouse Coopers.
Currently, 10 office buildings in Qianhai, offering a floor space of 580,000 square meters, have been put into business. Five new office buildings will be ready for lease this year, and an additional seven office buildings will be available in 2020.