Zhuhai gov't allots funds for company headquarters

The headquarters economy of Zhuhai is to be encouraged by an array of incentives to businesses that complement the city's growth strategy and generate designated revenue and taxes.

A headquarters enterprise is identified as one that meets industry requirements within a year of locating in Zhuhai. This test will be applied to world top 500, listed, large-scale State-owned, China's top 500 firms, and China's top 500 private companies. Transnational companies recognized or archived by the Ministry of Commerce are also included.

Other Zhuhai enterprises with proven major industry support may also apply.

Financial support toward office rent, tax payments of senior executives, land use, talent, and investment promotion of commercial premises will be given to outstanding newly settled headquarters and others excelling in operations, or acquisitions and mergers.

Commercial coastline [Photo courtesy Zhuhai Daily]

Specifically, a newly settled qualified headquarters enterprise will receive 2 million yuan ($288,170) for every $10 million or 100 million yuan ($14.4 million) paid in registered capital. The total award for a single project may not exceed 100 million yuan. Other newly settled headquarters enterprises that have passed review will each be granted a maximum of 50 percent of their incremental annual financial contribution to the city, up to 100 million yuan, with 40 percent possibly going directly to senior management.

All newly settled headquarters enterprises will be subsidized by up to 50 percent of the lease contract value for self-use office buildings, to a maximum 2 million yuan per year.

Meanwhile, 30 percent of the total contribution of any commercial premises operator to the city, to a maximum of 5 million yuan ($720,420), will be granted if the companies it attracted to the city made local financial contributions of more than 10 million yuan ($1.4 million) in the year of their arrival.