02 January 2020
The Guangzhou Municipal Science and Technology Bureau issued a notice on the detailed implementation rules for several policies and regulations on encouraging venture capital to promote innovation and entrepreneurship development in Guangzhou on 2 January 2020. The implementation rules propose 8 types of financial subsidies, including investment subsidies for technology-based small and medium-sized enterprises, seed stage and start-up investment subsidies, investment introduction subsidies, domestic and overseas cooperative investment subsidies, subsidies for imported high-tech projects, industry-university-research alliances investment subsidies, investment subsidies for new research and development institutions and introduction of venture capital subsidies. Among them, in order to support overseas venture capital management enterprises to invest in technology-based small and medium-sized enterprises registered in Guangzhou, enterprises that meet certain conditions are given subsidies of no more than RMB7.5 million per year, and those that have successfully introduced overseas high-tech projects are given subsidies of no more than RMB5 million per year. The implementation rules also provide detailed explanations on the support objects, calculation of investment size and implementation methods. These rules will come into force on 2 January 2020 and valid until 9 August 2023.