Notice from the Authority of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone on issuing the “Implementation Rules of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone on the Special Fund for Recognition of Headquarter Enterprises and Industry Support”
18 February 2019
The Authority of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone issued the above notice on 18 February 2019. The implementation rules are effective from 25 February 2019 to 31 December 2020. According to the implementation rules, eligible enterprises may be awarded a maximum special fund of RMB 30 million.
Abstract
The Authority of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone issued the above notice on 18 February 2019. The implementation rules are effective from 25 February 2019 to 31 December 2020.
Application criteria
Holders of the “Hong Kong service provider” qualification certificate, Hong Kong-funded enterprises with 51% shareholding from Hong Kong investors may be recognized as a Hong Kong headquarter enterprise as long as they fulfill the following criteria:
- Hong Kong integrated headquarters
Refers to Hong Kong enterprises which has continuously operated in Qianhai for 1 year or more and fulfill one of the following criteria:
- Derived local operating revenue of no less than RMB 1 billion and have made direct economic contribution to Qianhai of RMB 50 million in the previous financial year;
- Derived local operating revenue of no less than RMB 750 million and have made direct economic contribution to Qianhai of no less than RMB 75 million in the previous financial year;
- Derived local operating revenue of no less than RMB 500 million and have made direct economic contribution to Qianhai of no less than RMB 100 million in the previous financial year.
- Hong Kong modern logistics headquarters
Refers to Hong Kong modern logistics enterprises with registered capital of RMB 100 million or above, have made direct economic contribution to Qianhai of no less than RMB 10 million and having logistics operating revenue taking up 50% or more of total revenue in the previous financial year.
- Hong Kong headquarters for other functions
Refers to Hong Kong enterprises having direct economic contribution to Qianhai of no less than RMB 10 million and fulfills one of the following criteria:
- Registered capital or prior year operating revenue of no less than RMB 500 million;
- Made direct economic contribution to Qianhai of no less than RMB 50 million in the previous financial year or RMB 37.5 million in the past 2 financial years, or RMB 25 million over the past 3 financial years;
- Listed in the Shanghai Stock Exchange, Shenzhen Stock Exchange, Hong Kong Exchanges and Clearing Limited, New York Stock Exchange or NASDAQ Stock Market;
- Subsidiaries of a Fortune Global 500 company with over 50% shareholding;
- Fund managers managing assets of no less than RMB1.5 billion for at least 5 consecutive years.
- Hong Kong headquarters for Professional institutions
Refers to Hong Kong enterprises operating in Qianhai for 1 year or more and fulfill the following the criteria:
- Accounting firms or law firms with operating revenue of no less than RMB 25 million and having direct economic contribution to Qianhai of no less than RMB 1.5 million in the previous financial year;
- Tax firms, asset valuation companies or human resources companies with operating revenue of no less than RMB 25 million and having direct economic contribution to Qianhai of no less than RMB 2.5 million in the previous financial year.
Support fund gathering
Eligible Hong Kong headquarter enterprises may be awarded subsidies of 50% of the support funds based on the following headquarter types.
- Integrated headquarter enterprises
- support funds of up to RMB 20 million.
- Modern logistics headquarter enterprises
- support funds of up to RMB 10 million.
- Other functional headquarter enterprises
- support funds of up to RMB 5 million.
- Enterprises recognised to have made direct economic contributions of no less than RMB 300 million in the current year or RMB 200 million in the past 2 financial years will receive an additional RMB 5 million subsidy.
- The maximum subsidy is capped at RMB 10 million.
- Professional institutions headquarters
- support funds of RMB 2 million.