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The Futian District Government announced an increase in support for enterprises in the fashion sector, with more funds and favorable policies, at a forum held at the Museum of Contemporary Art & Planning Exhibition March 13.
He Jie, deputy head of the district government, elaborated on several policies that were recently added to existing documents at the Shenzhen (Futian District) Fashion Industry Forum.
The new policies include larger investments into the fashion industry’s R&D and talents awards for fashion designers, aiming to encourage more flagship stores to settle in Futian, among other districts.
“After the finance, architecture and decoration industries, the fashion industry is the third pillar in Futian District in terms of economic output volume, so we ought to give more support to the fashion industry and people working in this field,” He said at the forum.
Futian is home to more than 300 fashion companies that provide over 80,000 working positions, according to the deputy head.
One of the new favorable policies states that the district will give funds to fashion companies that generate an annual output of 3 million yuan (US$474,000) and spend 500,000 yuan on R&D each year.
The support will amount to 10 percent of the sponsored company’s R&D spending, with a cap at 3 million yuan.
For fashion companies that have made significant achievements in the previous year and plan to open flagship stores covering more than 300 square meters in Futian District, the government will shoulder 50 percent of the cost and each store will receive a one-off subsidy of up to 1 million yuan.
Yesterday was the second day of the A/W 2018 Shenzhen Fashion Week. The forum, jointly hosted by the Futian District Government, the Futian District Cultural Industry Development Office, the Shenzhen Garment Industry Association (SGIA) and the Shenzhen Evening News, was organized so fashion practitioners could discuss the future of the fashion industry in Shenzhen and China in a broader sense.
Shen Yongfang, chief of SGIA, and Su Baoyan, former deputy chief of the China Fashion Association, joined the forum and shared their views on how Chinese fashion brands should promote themselves on the world stage.
Fashion gurus from other countries were also invited to speak about their opinion on the future trends of the global fashion industry.
Mario Boselli, honorary president of the Italian Fashion Chamber, has been active in promoting connections between Italian and Chinese fashion designers in the past few years.
At the forum on March 13, Boselli said he believed that more exchange and communication between young fashion designers from both countries would be of great significance.
The “ambassador” for the fashion industry also said Shenzhen should take advantage of its irreplaceable position in the nationwide textile industry to further develop the fashion industry.