Qianhai authorities in Shenzhen still have 1.2 billion yuan of subsidies on offer in the coming three years for enterprises registered in the special economic zone, the Hong Kong Economic Journal reported Monday.
The amount is part of a 1.5 billion special fund that Qianhai has laid out to attract quality Hong Kong enterprises, the report said, citing Rong Weihua, director of investment promotion department at the Qianhai Authority Bureau Office.
As of the end of last year, 20,216 companies, involving total registered capital of 1.32 trillion yuan, were registered in the zone that serves as a test-bed for Chinese financial reforms.
Of the total firms registered in Qianhai, Hong Kong is said to account for 1,022, including around 50 financial institutions.
Qianhai aims to lure 10,000 Hong Kong companies, said Rong. According to the official, the average registered capital of existing entrants from Hong Kong currently stands at over 96 million yuan, 48 percent above the overall average in the zone.
Special funds have so far backed three batches of a total of 60 projects worth 300 million yuan since inception in 2012.
Qianhai at the same time offers a two-year interest rate subsidy of 300 basis points to registered enterprises in the zone, with the incentive capped at 2 million yuan for each firm in term the subsidized amount.
In other comments, Rong said that Qianhai intends to collaborate with the provincial government to work toward a greater free-trade zone following a directive from the State Council.
The free-trade zone could further benefit companies registered in Qianhai, Rong added.
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