03 January 2024
On 3 January 2024, the Authority of Qianhai of the Shenzhen Municipality issued the “Various Measures of the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone for Supporting High-Quality Development and Application of Artificial Intelligence” (“the Measures”). The Measures proposed to support Hong Kong enterprises and research institutions establish specialized institutions in Qianhai Cooperation Zone and pilot the provision of cross-border database services. Data brokerage enterprises that have achieved data transaction service revenue of more than RMB 5 million in the previous year will be awarded at 1% of their data transaction service revenue with maximum reward of up to RMB 200,000. A maximum of 10 companies will be rewarded each year. The Measures shall be implemented from 15 January 2024, and will be valid for 3 years.