The Authority of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen has recently unveiled 17 measures aimed at promoting the development of bulk stock trading within the region.
These measures provide practical subsidies to support bulk stock trading companies, bulk stock trading venues, as well as upstream and downstream companies.
For bulk stock trading companies and supply chain companies established in Qianhai, if they are recognized as headquarters companies, they will be eligible for a subsidy of up to 10 million yuan (US$1.38 million) for settlement. Similarly, each qualified Hong Kong-funded bulk stock spot trading venue in Qianhai will receive a maximum annual subsidy of 15 million yuan.
Moreover, for bulk stock trading companies and local bulk stock trading venues with an annual import and export volume exceeding 100 million yuan, a subsidy of 40 yuan per square meter of rented office space will be provided. The annual subsidy for each company is capped at 3 million yuan and will be allocated for a maximum of 24 months.
Furthermore, for the top three commercial bank branches in terms of annual cross-border RMB settlement volume in Qianhai, will receive a one-time reward of 200,000 yuan. This initiative aims to effectively promote the rapid development of cross-border RMB settlement business for bulk stock.
The measures will come into effect March 25 and will remain valid until March 24, 2027.