14 August 2024
On 14 August 2024, the People’s Government of Longhua District of Shenzhen Municipality issued the “Various Measures for Promoting High-Quality Development of Business and Trade Service Industry in Longhua District of Shenzhen Municipality” (“the Measures”). The Measures provide a one-time subsidy of RMB50,000 for each first store in Longhua that has an actual operating area of no less than 100 square meters and has been in continuous operation for more than one year. The total annual subsidy for a single operating entity shall not exceed RMB1 million. For newly introduced domestic and foreign specialty brands, well-known brands, and companies on recognized lists, a one-time subsidy will be granted for commercial leasing and initial renovations within the district. This subsidy will be based on the actual leased area at a rate of RMB100 per square meter, with a maximum amount not exceeding RMB1 million. The total subsidy amount must not exceed the actual renovation expenses incurred. The Measures are effective from 25 August 2024 and will be valid for 3 years.