08 August 2023
The Foshan Municipal Nanhai District Science and Technology Bureau (“the authorities”) issued the “Notice in relation to the “Implementation Rules for the “Lan Hai Ying Cai” Innovation and Entrepreneurship Team Support Awards” (“the Implementation Rules”) on 8 August 2023. The authorities announced projects that have been approved after evaluation and meet certain conditions, shall be granted with a subsidy of 30% of the amount of additional fixed asset investment. For projects with annual revenue reaching RMB 20 million and research and development investment ratio of not less than 5%, the maximum subsidy provided is RMB 500,000. For details, please refer to the Implementation Rules. These Implementation Rules shall take effect 30 days after the date of issuance.