Special funds of up to 60 million yuan will be provided in the next three years to support qualified Singaporean enterprises to better enter the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) market, an official of Sino-Singapore Guangzhou Knowledge City revealed on March 21.
A special policy promotion meeting on high-quality cooperation in science and technology innovation industry. At the event, Sino-Singapore Guangzhou Knowledge City specially promoted the "Sino-Singapore Science and Technology Innovation and Industry High-Quality Cooperation Agreement" (Special Policy).
At the scene of the event, eight companies including Xinyao Private Limited and Hengxing Surveying and Mapping Technology Private Limited signed agreements to establish their presence in the Knowledge City.
To further implement the consensus on upgrading the bilateral relations between China and Singapore, in June 2023, the Management Committee of Sino-Singapore Guangzhou Knowledge City, Enterprise Singapore, and Sino-Singapore Guangzhou Knowledge City Investment Development Co., Ltd. signed the Special Policy at the 13th meeting of the Guangdong-Singapore Cooperation Council.
It is reported that the Special Policy focuses on supporting Singaporean enterprises in the fields of scientific and technological innovation, digital economy, bio-medicine, financial services, and green development to settle in the Knowledge City. The main incentives and subsidies are provided in areas such as quality enterprise settlement and site leasing, talent introduction, scientific and technological achievement transformation, establishment of scientific and technological innovation cooperation platforms, and organization of business exchange activities:
In terms of attracting enterprises to settle, high-quality enterprises that settle in the Knowledge City and meet certain paid-in registered capital amounts or the number of invention patents can receive up to 800,000 yuan in one-time settlement rewards, as well as up to one million yuan in rent subsidies.
In the field of scientific and technological innovation, eligible Singaporean technology innovation enterprises and institutions can receive up to 800,000 yuan in R&D rewards, and support is provided for the construction of China-Singapore technology innovation cooperation platforms, with a one-time subsidy of up to five million yuan for each selected platform.
In terms of talent introduction, with an orientation towards entrepreneurship driving employment, subsidies are given to enterprises for talent introduction, and priority is given to the allocation of talent housing apartments for the introduced talents.
Additionally, the Special Policy also sets up a high-level business activity subsidy to encourage enterprises or institutions to hold international green industry and strategic emerging industry summits, major thematic forums, etc., in the Knowledge City, with a one-time subsidy of up to one million yuan for each event.
The Guangzhou Development Zone and Huangpu District have continuously increased their support for enterprises, and successively issued a series of policies such as "30 measures for high-quality development", providing comprehensive support for enterprises. Last year alone, various policies provided 12.7 billion yuan in funds for enterprises, ranking first in the country in terms of support.
"After coming to the Knowledge City, I deeply felt the unique atmosphere of innovation and the open business environment. Not only are there abundant industrial resources and innovation platforms provided, but it also offers unprecedented development opportunities for Singaporean enterprises," said Dr. Bao Shengjie, president of Xin Guo Agricultural Technology and a doctoral graduate in biomolecular science from the National University of Singapore, who visited the Knowledge City last March and praised the business environment there.