The Dream Factory of China

Source :Shenzhen Daily

Research and development institutions from Guangdong, Hong Kong and Macao will have the chance to get a subsidy of up to 50 million yuan (US$7.74 million) from the Qianhai authority if they set offices in Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, according to a recently released official document. The document is now soliciting public opinions.

To qualify for the subsidy, an institution must meet seven simultaneous conditions.

First, the place of registration, tax payment, and statistical relations of the institution should be all located in Qianhai, and the applicant shall have an independent legal registration, sound financial systems, and implement independent accounting.

Second, the acceptable key research areas of the institution are artificial intelligence, health care, financial technology, smart city construction, the Internet of things, new energy and materials, and other industries advantageous to Hong Kong and Macao.

Third, the project leader or core team members must be Nobel Prize winners, National Science and Technology Award winners, academicians of the Chinese Academy of Sciences or Chinese Academy of Engineering, academicians of major developed countries, high-level talents recognized by the country, Guangdong Province, or Shenzhen, or well-known professors at one of the Top 100 Universities as rated by Quacquarelli Symonds.

Fourth, the term of office of the main project leaders and core team members shall not be less than 3 years.

Fifth, the team members should have advanced technology research experience in universities and research institutions in Hong Kong or Macao.

Sixth, the institution must have a confirmed office and scientific research site in Qianhai that can meet the needs of scientific research activities.

Seventh, the institution should have no record of major violations of laws and regulations that have not been processed at the time of application.

The subsidies will be allocated to the qualified institutions on a yearly basis and the funding period does not exceed five years. In accordance with the renovation investment of the institutions, a renovation subsidy of up to 3 million yuan will also be given to the institutions. In addition, in principle, an institution will receive no more than 30 million yuan in subsidies in a single year.