Shenzhen Offers Incentives to Internet Companies
Guangzhou Daily, 5/15/09
The Shenzhen Bureau of Science, Technology and Information recently stated that it has formulated policies to help support the Internet industry in the city. Starting from 2009, the city plans to provide funding worth RMB 100 mln per year to support the Internet industry with a focus on research and development of medium- to high-end core Internet technologies, sales of Internet-capable devices and market expansion. Of this, RMB 30 mln will be allocated per year from Shenzhen's Technology Development Fund on key Internet technology projects. Qualifying research centers, laboratories and technology centers will also be eligible for individual grants of up to RMB 5 mln.
Also under the plan, non-Shenzhen based domestic and foreign Internet enterprises that relocate to Shenzhen will be eligible for up to RMB 5 mln in subsidies if they establish themselves in the city, and Internet companies who apply for public listing on a stock exchange will also receive subsidies of up to RMB 2 mln to help cover related expenses.
Keywords: Shenzhen Bureau of Science Technology and Information government support funding Internet R&D subsidy policy
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