06 November 2024
On 6 November 2024, the Department of Industry and Information Technology of the Tianhe District of Guangzhou Municipality (“the authorities”) issued the “Notice of Issuing Various Policy Measures for Promoting High-quality Development of Large-model Industry in the Artificial Intelligence Sector in Guangzhou Municipal Tianhe District” (“the Measures”). The Measures encourage enterprises to include data products as assets in the financial statements. For software and information technology service enterprises that include data resources for the first time in the financial statements in previous year with an amount exceeding RMB 500,000, shall receive support of up to RMB 50,000 per year for each enterprise.