Measures were put forward to promote the modernization and high-quality development of marine fisheries in Zhuhai.

This is according to the plan for Interim Supporting Measures of Zhuhai's Deep-sea Farming and Fishing, which was approved by the municipal government on May 10.

Deep-sea farming is an industry with high investment, high risks, and high payouts. Zhuhai will support enterprises and cooperatives in building deep-sea anti-wind cages, large intelligent fishery aquaculture vessels, and integrated intelligent marine fishery platforms. The city will also offer enterprises additional subsidies that are equal to between 20 and 30 percent of national subsidies.

Enterprises related to deep-sea farming are encouraged to settle in Zhuhai. Preferential policies will be made available to them in order to utilize overseas fishery resources and enhance the capacity of international orders.

Deep-sea farming enterprises will receive a reward of up to 5 million yuan ($721,096) according to the total tonnage of their deep-sea farming ships, to be issued equally over five years of approval.

Those who have paid expenses related to overseas fishery resources will get a subsidy of 60 percent of their expenses. Additionally, fishing ships that have enjoyed subsidies from the Ministry of Agriculture and Rural Affairs will receive a subsidy of 33 percent from Zhuhai.

Marine ranching [Photo by Li Jianshu / Zhuhai Media Group]

Other measures mention a seafood trading center to be built in the Guangdong-Hong Kong-Macao Greater Bay Area. Transportation subsidies will also be made available for enterprises that transport deep-sea farming yields to Zhuhai for further distribution.

Purchasers from the Hongwan Central Fishing Port Trading Center that achieve an annual sales revenue of more than 10 million yuan ($1.4 million) will receive a reward of 1 percent of their sales revenue, which will not exceed 500,000 yuan ($72,094) per enterprise.

Enterprises that build ultra-low temperature cold storages in Zhuhai will also be supported, as a subsidy of 10 percent of their total investment will be available for high-capacity single storage units over 2,500 cubic meters. This subsidy will be no more than 20 million yuan ($3 million).

Those carrying out quality authentication for aquatic products will receive a subsidy of no more than 50 percent of their authentication expenses, while products that gain geographical indication trademarks will receive a maximum reward of 1 million yuan ($144,194).

Officials from the Zhuhai Agriculture & Rural Affairs Bureau announced that a subsidy of up to 80 percent of a deep-sea farming enterprise's insurance will be granted, along with additional interest subsidies for enterprises, fishing platforms, and cooperatives with loans amounting to more than 1 million yuan annually.