11 July 2024
On 11 July 2024, the Guangzhou Municipal Administration for Market Regulation issued the “Administrative Measures for Quality Development and Standardization Strategic Special Fund in Guangzhou Municipality” (“the Measures”). The Measures stipulate the application, acceptance, and verification of the special fund, thereby stimulate enterprises to enhance their comprehensive competitiveness and promote economic and social development. The Measures are applicable to enterprises that meet the conditions and engage in production and operation activities in Guangzhou Municipality. The Measures grant up to RMB 1 million in financial assistance to enterprises that received honour of Government Quality Award, participate in drafting of international standards, or hold major international or national activities. The Measures will be implemented from 11 July 2024 and will be valid for 5 years.