Huangpu issues subsidies to support commerce, trade companies

Huangpu's nine measures for boosting high-quality development of commerce and trade companies promotion event gets underway in the district. [Photo by Li Jianfeng]

Nine measures for boosting high-quality development of commerce and trade companies in Huangpu district were promoted during an April 28 event to help local companies overcome difficulties caused by the COVID-19 pandemic.

These measures focus on four main aspects, which include rewarding companies in terms of management, growth, talent cultivation and supply chain platforms. 

A reward of up to 50 million yuan ($8 million) is available for companies managing wholesale trade and retail business to support their rapid development.

Talents, especially senior managers in business and trade, can get a subsidy of 15 percent of their taxable income and the amount is up to 3 million yuan for each person annually. 

The first edition of the Huangpu Business Index was also released the same day, which assessed the business vitality index of Guangzhou districts in terms of factors spanning economic power, citywide position, industrial projects and future plans. 

Huangpu ranked high in several indexes that reflect business potential such as per capita GDP, per capita disposable income and number of planned business circles.

Zhang Chenhao of Savills, a leading global real estate service provider, noted that the release of the report will greatly attract more social capital and encourage residents both in and outside Huangpu district to make purchases in the district, which will remarkably improve Huangpu's consumption environment and level. 

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