27 September 2020
The General Office of the People's Government of Shenzhen has issued a notice on measures to promote the accelerated development of e-commerce in Shenzhen on 27 September 2020. The notice proposes 19 measures to promote the development of e-commerce from 5 directions, including accelerating the development of large-scale e-commerce platforms, vigorously promoting e-commerce applications, strengthening cross-border e-commerce development advantages, enhancing e-commerce support service systems, and improving government support services. Supporting ways include financial incentives, expenses support and loan interest discounts. Among them, the measures propose to increase efforts to introduce large-scale e-commerce platforms, provide financial rewards and support to enterprises meeting specific criteria, and provide financing rewards at 1% of the amount of venture capital, strategic investment or listed financing. The maximum amount of the reward is RMB5 million. The measures came into force on 26 October 2020 and would be valid until 26 October 2025.