SHENZHEN will offer rewards up to 2 million yuan (US$298,111) to enterprises signing contracts in the overseas market and for major overseas exhibition projects, as per measures unveiled by the municipal commerce bureau Wednesday.
With a view to promote high-quality development of overseas investment and cooperation, the measures encourage innovation in outbound investment and contract signing abroad, and support companies to settle cross-border transactions in RMB and tap into the international market via key overseas exhibitions.
A reward of 200,000 yuan will be offered to a Shenzhen-based enterprise that contracts foreign projects for the first time with an accomplished turnover reaching at least US$1 million. Aside from the 200,000-yuan reward, the company will also be granted 100,000 yuan for every additional US$1 million in turnover. The maximum reward is set at 2 million yuan.
The subsidies for key exhibitions abroad aim to help Shenzhen brands and products go global by participating in major conventions and expos in developed countries and Belt and Road countries and regions.
The subsidies cover online and offline exhibitions. An offline project must have over 20 standard stalls or cover at least 180 square meters.
The grants for each exhibitor are capped at 500,000 yuan per event, and 2 million yuan per year.