City unveils rewards to boost local business

Writer: Han Ximin  |  Editor: Holly Wang  |  From: Shenzhen Daily  |  Updated: 2020-08-13

Staffers display procelain utensils at a livestreaming session during a sales promotion event on fashion and cultural creative products organized by Futian District Enterprise Development Center at Futian Shennan Rainbow Shopping Center on May 28. DT News

Leading retail enterprises that move their offices to Shenzhen, export-oriented enterprises that expand domestic sales, or small and medium-sized wholesale and retail businesses that expand operations will get rewards or subsidies from the government, according to a guideline released by the Shenzhen Municipal Commerce Bureau to promote consumption.

To retail and wholesale enterprises that have engaged in online sales, the city will give a 0.5 percent reward of the amount that exceeded the sales volume of the previous year. A single enterprise can get a reward of up to 10 million yuan (US$1.43 million).

For the retail, wholesale and dining businesses that have moved to Shenzhen since January 2019, the city will give a 0.5 percent reward of the amount that had gone beyond the 500 million yuan threshold in the sales in the following year since the relocation. A single enterprise can get a reward of up to 100 million yuan.

For retail and wholesale enterprises that have been included into statistical metrics at or above designated scale since January this year, such enterprises can obtain a reward of 50,000 yuan for every 10 million yuan they contributed in sales in the year. Such single enterprise can obtain up to 2 million yuan as a reward.

Enterprises organizing promotions, like the sales of cars, intelligent products, developing new retail business modes and settling retail businesses in Shenzhen will be subsidized, according to the guideline.

Car dealers and secondhand car sellers, wholesale enterprises and export-oriented enterprises are eligible for subsidies for programs like “Replacing Old Cars with New Ones,” and reward programs for secondhand car dealers, new business modes and leading retail enterprises.

For export-oriented enterprises that expand within the domestic market, the city will give 50 percent in subsidies toward the cost of the enterprises in shifting product standards, brand building and logistic systems construction. The subsidy for a single enterprise is capped at 2 million yuan.

For the large scale promotional activities that involve participation of at least 50 export-oriented enterprises, the city will offer up to 1 million yuan as a subsidy for each activity. Export-oriented enterprises that sell at least 5 million yuan through online stores on e-commerce platforms will get 50 percent in subsidies to the cost. One single company can get a subsidy up to 1 million yuan.