25 March 2024
On 25 March 2024, the Culture, Radio, Television, Tourism and Sports Bureau of Shenzhen Municipality issued the “Measures for Promoting High-quality Development of Sports and Recreation Industry in Shenzhen Municipality” (“the Measures”). The Measures proposed to attract domestic and foreign renowned cultural, sports and entertainment enterprises to relocate or establish subsidiaries or regional headquarters in in Shenzhen Municipality. A one-off incentive of up to RMB2 million will be offered to newly relocated domestic or foreign enterprises or relevant institutions with operating income exceeding RMB 20 million in the first year. In addition, the Measures aimed to provide a reward of RMB 100,000 to enterprises that are responsible for planning and successfully facilitating the settlement of high-quality enterprises.