20 December 2023
On 20 December 2023, the Office of the Guangzhou Nansha District Administrative Committee and the Office of the People’s Government of Guangzhou Nansha District issued the “Support Measures for Promoting the High-quality Development of the Commercial Space Industry in the Guangzhou Nansha New District (Free Trade Zone)” (“the Measures”). The Measures proposed to support venture capital institutions to establish special funds for commercial spaceflight and attract commercial spaceflight enterprises to settle in the Nansha New District. For a registered commercial aerospace special fund that operates in Nansha New District and directly holds more than 1% equity of an enterprise in Nansha New district for more than 3 years, a one-off incentive shall be provided to its entrusted fund management company. The incentive shall be granted according to 3% of the total amount of equity investments which are held over 3 years and will not exceed RMB5 million per project. The Measures shall come into force from 20 December 2023 and will be valid for 5 years.