The Authority of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone released three major supportive polices Monday to promote the development of the financial industry, industrial agglomeration and talents, offering substantial subsidies for qualifiers in Qianhai.
The policies offer three major subsidy types for financial institutions, office space tenants and high-end talents.
A subsidy of 2 million yuan (US$313,175) will be given to major financial cooperation platforms and financial infrastructure in the Guangdong-Hong Kong-Macao Greater Bay Area. A maximum subsidy of 3 million yuan will be given to financial institutions that move into the Qianhai Shenzhen-Hong Kong International Financial City and fintech subsidiaries of Hong Kong virtual banks. A subsidy of 500,000 to 1 million yuan will be given to QFLPs (Qualified Foreign Limited Partners) and WFOE PFMs (Wholly Foreign-owned Enterprise Private Fund Managements), while 2 million yuan in subsidy will be offered to fintech accelerators in Shenzhen and Hong Kong, as well as Qianhai-based companies that issue cross-border green bonds.
Enterprises in sectors such as finance, modern marine, exhibition, trade and logistics will receive 60 yuan, 40 yuan and 20 yuan per square meter per month in office rental subsidy if they settle in Qianhai in 2021, 2022 and 2023, respectively.
The office rental subsidy is available for three consecutive years and is capped at 5 million yuan each year.
Subsidy qualifiers must be enterprises registered, operating and paying taxes in Qianhai, headquarters enterprises recognized by the Qianhai Authority or industries belonging to the list above. In addition, rented office space must not be less than 150 square meters.
The office space purchase subsidies are 3,000 yuan and 1,500 yuan per square meter, and are capped at 30 million yuan and 15 million yuan for headquarters enterprises and other key institutions, respectively. The subsidies will be allocated evenly over three years.
Talents who come to Qianhai and companies hiring specific talents will also receive handsome subsidies.
Enterprises that hire more than 30 Hong Kong youths will receive another 200,000 yuan.
A subsidy of 3.24 million yuan, 2.16 million yuan and 360,000 yuan will be given to leading technologists, young technologists and excellent engineers, respectively. The subsidies will be allocated evenly over six years
For high-level innovation and entrepreneurship teams selected by Guangdong and Shenzhen, the team leader will receive 2 million yuan.
The supportive policies will cover the expanded Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, which now occupies 120.56 square kilometers.