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Detailed measures announced to aid fashion industry

Writer: Chen Xiaochun  | Editor: Jane Chen  | From:  | Updated: 2018-06-19

Futian has rolled out detailed measures to support the growth of the fashion industry in the district.

According to the measures, a government-owned property will be used as an international fashion headquarters. For the fashion firms are willing to settle in the district, Futian will subsidize their office space at 50 to 90 percent of the market price based on the comprehensive contribution of the firms. The preferential rent will last five years.

For listed firms and those with their headquarters in Futian, the offices they rent could be sold to them at a favorable price after the five-year leasing period.

For fashion firms that meet the requirement, if they buy office space (not including subsidiary and supporting buildings) in Futian after Jan. 1, 2017, the district may offer them a support of 10 percent of the space price, which is no more than 20 million yuan (US$3.19 million), based on their business operation.

The district will also provide support for office buildings in industry parks. For apparel firms and relevant industry associations to settle in district-level and above fashion industry parks, they will be able to rent the space at 3 yuan per square meter after paying the rent of the previous year. The same firm or industry association can enjoy the rent support for less than three years and the area should be less than 1,000 square meters.