Policy Spotlight | Policies fueling tourism, talent, investment

In a recent set of initiatives and policies aimed at enhancing economic growth released last week, governments at all levels have introduced notable plans. One standout initiative is the visa-free entry program for international tourists arriving through cruise ships, a key advancement in Chinese tourism.

A view of Shenzhen's skyline. File photo

Furthermore, Guangdong offers various incentives to attract foreign investment. Combined with Shenzhen's focused endeavors to cultivate tech talent, encourage international cooperation, foster new energy and manufacturing industries, these efforts strengthen the region's leadership in manufacturing, technology services, and innovation.

Let's take a closer look at these policies to understand their impact.

Visa-free entry into SZ allowed for foreign tourist groups on cruises

China on May 15 enacted a policy that allows the visa-free entry of foreign tourist groups aboard cruise ships via all cruise ship ports along the country’s coastline. The policy is effective immediately.

Tourist groups — consisting of two or more foreigners and organized or received by Chinese travel agencies — can enter China without a travel visa if they arrive on cruise ships that dock at specific cruise ports. There are 13 Chinese port cities that the policy applies to, including Shanghai, Tianjin, Shenzhen, Guangzhou, Haikou, and Sanya, according to the National Immigration Administration (NIA).

Pacific World, a cruise ship operated by Japan-based Peace Boat, arrives at Shekou Cruise Homeport in Nanshan District on March 23 with 1,500 international tourists on board. File photo

These tourists can stay in China for no more than 15 days.

For details, please click to read

Visa-free entry into SZ for foreign tourist groups on cruises

Guangdong offers incentives to attract foreign investment

Guangdong, China’s biggest manufacturing hub and the country’s largest provincial economy, has introduced a fresh batch of incentives for overseas capital, offering rewards of up to 150 million yuan (US$20.73 million) to foreign-invested firms in a bid to increase foreign investment.

Attendees pose for a photo at the launch ceremony of Amazon Global Selling’s Asia-Pacific innovation center in Shenzhen last December. Photo from Shenzhen Economic Daily

Under a policy guideline unveiled May 11, rewards will be offered to those foreign investors who establish new firms or register their regional headquarters in 21 cities of the province.

The guideline, applicable from 2023 to 2027, highlights advance manufacturing and high-tech services sectors as those the province is eager to promote but exclude financial firms and real estate developers from the list of eligible recipients. It targets foreign-invested firms registered in various cities of Guangdong, including those supported by funds from Hong Kong, Macao and Taiwan.

Shenzhen Daily's report on the details of the guideline can be found at https://www.eyeshenzhen.com/content/2024-05/14/content_30939595.htm.

SZ offers up to 20M yuan in funding to cultivate tech talent

Shenzhen will provide 10 to 20 million yuan (US$1.4-2.8 million) in funding to 10 researchers who have made significant discoveries, demonstrated high-level academic accomplishments, and shown great potential to become outstanding experts and strategic scientists, according to an implementation plan for prominent tech talent cultivation that officially took effect May 15.

A view of Shenzhen High-tech Park in Nanshan District. File photo

Every two years, up to 10 tech researchers with the potential to be leaders in their respective fields will be selected, according to a release from the Shenzhen Municipal Human Resources and Social Security Bureau.

To learn more about this incentive, please click to read:

City offers up to ￥20M in funding to cultivate tech talent

SZ encourages participation in overseas exhibitions

Shenzhen-based enterprises will be eligible for government subsidies if they attend any of this year’s 77 overseas exhibitions recognized by the Shenzhen Municipal Commerce Bureau, like the Hannover Messe 2024.

BYD's booth at this year's Geneva International Motor Show. Photo from Shenzhen Special Zone Daily

The bureau released a support plan for overseas exhibitions May 13. The plan lists 77 overseas exhibitions to encourage the city’s key industries to exhibit products in developed countries and Belt and Road Initiative partner countries and regions, encourage local companies to secure overseas orders, and promote quality products from Shenzhen to the world.

Shenzhen-based enterprises will receive a 50% subsidy for their booth fees when attending any of the 77 listed overseas exhibitions. Each exhibitor will receive a maximum of 500,000 yuan (US$69,117) in funding support for participating in each exhibition, with a maximum total of 2 million yuan if it takes part in multiple events.

SZ to offer subsidies for equipment renewal

Shenzhen has introduced a set of 50 measures to provide subsidies for equipment renewal and trade-in of consumer goods across seven key fields, Shenzhen Special Zone Daily on May 14.

The objective is to stimulate investment and consumer expenditure, aiming to stimulate over 180 billion yuan (US$ 24.88 million) in investment and consumption by 2025.

To find more about the action plan, please click to read:

Shenzhen to offer subsidies for equipment renewal

SZ charges ahead in hydrogen industry race

Shenzhen is gearing up to seize the opportunities presented by the burgeoning hydrogen industry, aiming to significantly bolster its scale and innovation capacity by 2025, according to a plan released by the Shenzhen Municipal Development and Reform Commission.

Outlined in the plan are 17 measures grouped into four key categories: the advancement of core hydrogen technologies, fostering advanced manufacturing capabilities, showcasing application scenarios, and bolstering industry support services.

By 2025, Shenzhen aims to lead the nation in key components and equipment technologies critical to hydrogen energy, including fuel cells, membrane electrodes, bipolar plates, proton exchange membranes, carbon paper, catalysts, and hydrogen production equipment. Additionally, the city plans to establish at least 15 innovation centers and actively participate in the formulation or revision of at least 20 international and domestic standards in the hydrogen energy sector.

A detail report on the plan can be found at https://www.eyeshenzhen.com/content/2024-05/14/content_30938693.htm.