Policies launched to boost digital economy in GDD

GDD launches a series of 10 measures on March 29 to boost digital economy development. [Photo by Xiao Kunhua]

Guangzhou Development District (GDD), which is the core area of the scientific innovation hub in the Guangdong-Hong Kong-Macao Greater Bay Area, launched a series of 10 measures on March 29 to boost digital economy development.

The series of policies are the first of its kind at the district- and county-level in China, greatly rewarding the digitization of the manufacturing industry.

Companies that are listed among the top 10 in the authority lists on digital economy in China for the first time can receive a one-time reward of 5 million yuan ($704,691.08). Those winning international awards in digital economy or the National Science and Technology Award can receive a reward of 100 percent of the winnings, with the award being up to 5 million yuan.

Leading talents in innovation and entrepreneurship in digital economy can receive a reward of up to 10 million yuan for entrepreneurship, as well as a reward of up to 10 million yuan for investment.

World leading companies managing digital technologies that are newly introduced to Huangpu district can receive a reward of 15 percent of the total fixed asset investment that has been completed phase by phase. The eligible reward for a single project is up to 500 million yuan.

A fund of 100 million yuan will be devoted in the next three years to cultivating a batch of leading companies in areas spanning operating systems, databases, middleware, CPU chips, streaming TAB software, as well as network security software and hardware, striving to turn GDD into the first national-level innovation base for information technology application in the Guangdong-Hong Kong-Macao Greater Bay Area.

New business models, such as electronic sports, digital medicine, and digital agriculture, are also encouraged to develop.  

Software projects in electronic sports that have been officially put into online operation with great influence can receive a subsidy of up to 12 million yuan according to their investment in software development.

Companies or institutions that have taken the lead in the formulation or revision of industry standards in digital economy can each receive a reward of up to 1 million yuan.

The policies are effective as of the date of issue and will be valid for the next three years. 

This English version is only for reference. To learn more, please refer to the authoritative Chinese version at hp.gov.cn.

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