Tag Archives: subsidies

Shenzhen opens tech subsidy window

Shenzhen has opened this year’s application window for companies to be classified  as high tech. The distinction is an important one, as companies will be eligible for subsidies from the city government of up to 10 % of their research and development budgets, capped at 3 million yuan.

The city, which is well established as China’s leading technology hub, has seen the number of state-level high tech companies soar by 2.4 times in the past five years, currently numbering 18,650. Their annual output has grown from 584.8 billion yuan in 2015 to 974.7 billion yuan in 2020. Shenzhen’s latest Five Year Plan, released officially this week, envisages 22,000 national high tech firms in the city by 2025.  

More on SZNews

District offers 100m yuan ‘Industrial internet’ subsidies

Shenzhen’s Bao’an district is offering subsidies of up to 100 million yuan for “manufacturing innovation centers” to be established there. The district, which centers on the international airport but is a large-scale logistics and commerce hub in the making, has just released a plan aimed at transforming traditional manufacturing industries through the IoT model, which in China is known as the “industrial internet”.

A set of detailed criteria for the subsidies has been formulated. Any enterprise formally identified as being engaged in industrial internet development, by authorities at the municipal, provincial, or national level, qualifies for financial support if they set up in Bao’an. The district will add up to 50% of funding provided by these higher-level authorities, capped at 50% of the enterprise’s total required investment. Depending on the size of the project, these can be 100 million yuan, 50 million yuan, or 30 million yuan.

More on SZNews

Shenzhen supports digital projects with 3m grants

Shenzhen has opened applications for subsidies that can be worth up to 3 million yuan for projects focused on building digital public services. The promotion plan is aimed primarily at projects involving high-end software, innovative apps, data security, blockchain technology, Internet innovation, big data and cloud computing. Organizers of forums or exhibitions in these key areas may also apply.

More on SZNews

Shenzhen supports research projects

Shenzhen’s Municipal Science and Technology Innovation Commission is awarding a second round of funding for key technical research projects related to materials and energy, with individual grants of up to 10 million yuan. It is designed to encourage joint bids by companies and academic institutes.

As the official announcement puts it (machine translation): “This key project application aims to enhance the core competitiveness of Shenzhen’s high-tech industry, enhance the overall independent innovation capability of the industry, make breakthroughs in key components and other industry development common key technologies, focus on Shenzhen’s strategic emerging industries, promote the construction of ecological civilization and improve people’s livelihood, etc. The bottleneck key technology in the science and technology field will provide funding for key technology research in key areas, priority themes, and key special projects of Shenzhen’s high-tech industry.”

The application’s “lead unit” should be a national or Shenzhen high-tech enterprise that is legally registered in Shenzhen or the Shenzhen-Shantou Special Cooperation Zone; and it must have recorded an operating income of more than 20 million yuan in 2020. Domestic (including Hong Kong and Macao) universities, scientific research institutions and enterprises can participate in the project as cooperative units.

More on SZNews

Shenzhen splashes startup cash

Shenzhen wants everyone to be an entrepreneur, it seems. The city has doubled basic allowances for “startups” and widened their definition to include, well, just about the entire population that works for itself, rather than for corporate titans such as Huawei, Tencent, and Ping An, from what we can see.

According to the Shenzhen Daily News, the basic subsidy for “start-up enterprises”, which can be individuals, has been doubled, from RMB 5,000 to RMB 10,000 yuan. In the case of “partnerships”, i.e., limited liability companies, it goes from RMB 50,000 to RMB 100,000.

Continue reading Shenzhen splashes startup cash

Shenzhen throws cash at big brains

Shenzhen has been raising the bar in the region’s “talent wars”, with competition growing steadily among the 11 GBA cities. Subsidies in the form of housing and tax-equalisation measures have been getting rolled out aggressively lately. The city’s academic leadership must be feeling the pressure, however, because now Shenzhen has set its sights on a few people at the very top of the academic food chain, offering eye-watering incentives to retain its brightest minds.  

Continue reading Shenzhen throws cash at big brains

GBA Briefs: 28/6/2019

Huawei Wants Talent:Huawei’s founder Ren Zhenfei said in an email to all the company’s staff that Huawei will recruit 20-30 “genius youth” from around the world this year. The number will be increased to 200-300 next year. “These geniuses will be like pond loaches to dive into our organization and activate our teams,” he said. Read more. 

Foshan Beckons:Foshan is getting in on the game of attracting Hong Kong and Macau youth, setting up its Sanlongwan Innovation Zone which will provide supporting services as well as subsidies for young people from the two SARs. Read more

Zhaoqing Jumps:Zhaoqing’s exports jumped 10.7% to RMB9.63 billion in the first five months, led by mechanical and electrical products, which accounted for 37.1% of the total. Read more

DCH Delivers:Hong Kong’s Dah Chong Hong Holdings has launched a logistics center in Hengqin’s Guangdong-Macau Cooperation Industrial Park with an investment of RMB250 million. Read more

Hydrogen Trucks:Foshan FEiCHi Bus company has delivered 100 hydrogen fuel logistic vehicles to Shenzhen, adding to the last 70-unit delivery at the end of last year. Read more

CLP Awakes: CLP Holdings, one of two major electricity providers in Hong Kong, is working with start-ups to bring itself and its customers into the digital era. Read more. 

HK IPO Arrests: Hong Kong’s securities regulator and anti-graft agency have arrested a former executive of the Hong Kong bourse’s initial public offering vetting team and two of his associates for suspected misconduct of helping over 30 unqualified applicants to go public. Read more. 

E-Smokes Out:Shenzhen has added e-cigarettes to its smoking control list, further tightening the smoking ban in public places including bus platforms and waiting areas in public institutions. Read more.