Nansha rolls out new industrial policy

Guangzhou’s Nansha district on Feb 20 introduced a new industrial policy based on a previous document issued in 2017.

The new policy adds seven special clauses pertaining to artificial intelligence, foreign trade integrated services, the cruise industry, seed industry towns, living services, and Hong Kong and Macao youth innovation and entrepreneurship.

The district is also ramping up individual awards.

The first step is to consider the actual needs of industrial development and the centralized demands of the opinions of enterprises’ talents, and to supplement some of the new formats in the measures.

A subsidy of up to 7 million yuan ($999,505.24) for importing medium-sized cars registered in Nansha was added to the shipping logistics policy.

The company’s listing award standard was raised from 5 million yuan to 8 million yuan.

As for financial services, new types of financial support such as securities and futures trading platforms, fintech, the aviation financial industry chain, and large equipment financial leasing were added, supplementing up to 10 million yuan in capital increase awards and up to 10 million yuan in equity investment companies.

The second step is to review the outstanding concerns after the implementation of the policy, optimize the operating process, and adjust some of the impractical policy provisions.

The incentive conditions for accommodation and catering companies in the commerce and trade industry policy will be adjusted from “annual retail sales or sales” to “yearly turnover”. The subsidy for imported cars of 3,000 yuan per vehicle will be specified as for “parallel-imported vehicles”.

The district highlights the three concerns of settlement reward, economic contribution reward and providing supporting services.

Newly settled and recognized artificial intelligence companies will receive a one-time start-up reward of up to 20 million yuan; newly established and recognized pilot foreign trade service enterprises can access awards of up to 2 million yuan; cruise companies, organizations and cruise ports (terminals) enterprises will be given up to 5 million yuan one-time settlement awards.

Accredited AI companies will be awarded 95 percent of the district-level economic contribution within four years from when they settled; pilot foreign trade integrated service enterprises will be awarded 30 percent of their contribution; recognized brand enterprises in the living service industry will be rewarded 40 percent to a maximum of 1 million yuan per year.

The registration of green channel services is being offered to Hong Kong and Macao youth providers, and the same goes for services of medical, education, living, medical insurance management, commercial insurance claims, residence permit applications, and joint property ownership housing applications.

The document took effect on Jan 1, and will be valid until Dec 31 of 2021.

Nansha will further expand the industrial policy system by studying and introducing special policies in emerging areas. It will give more targeted support according to the characteristics of subdivided industries, and improve the attractiveness of policies for segmented industries.