Qianhai offers subsidies to boost professional service industry

A bird's eye-view of Qianhai Boulevard. Qianhai Authority

The Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone rolled out a policy May 13 to boost the development of the professional service industry in the area by offering substantial subsidies to qualified enterprises and institutions.

The policy includes 13 concrete measures, and mainly supports eight categories of fields including accounting, assessment, consulting, engineering service, cultural creativity, exhibition, human resources, and intellectual property services. The enterprise and institution applicants’ main business should fall in the above-mentioned categories and their main business income should account for more than 60 percent of their total income in the most recent year. In addition, the places of business registration, operation and tax payment of the applicants should be within the scope of the 120.56-square-kilometer new Qianhai.

According to the measures, a single professional service institution can receive up to 20 million yuan (US$2.95 million) if it is operating in Qianhai’s Guiwan, Qianwan or Mawan areas and its total profit of the previous year reached more than five million yuan. Major professional service institutions can receive up to 2 million yuan if they relocate their offices to Qianhai; institutions that have been established in Qianhai for more than two years can receive up to 2 million yuan each year in accordance with the increase of their total profit.

The policy also reflects Qianhai’s commitment to Shenzhen-Hong Kong cooperation. A one-time subsidy of 120,000 yuan will be given to Hong Kong-funded professional service industries that establish in or move to Qianhai, and also to taxation firms, accounting firms, and professional institutions in the field of engineering and construction with Hong Kong or Macao professionals as founders or partners.

For major conferences and activities that are conducive to promoting Shenzhen-Hong Kong cooperation or international development in the field of professional service, organizers will be given up to 2 million yuan in support to cover 30 percent of the actual conference and activity costs.

In addition, if a Qianhai-registered company serves as the producer of a TV drama or a film co-produced by Hong Kong and mainland parties, when the TV drama or film is released and broadcast, the company will be given a maximum of 3 million yuan. 

The subsidies are now open for application. Applicants can go to the official website of Qianhai Authority for details.