Shenzhen to reward wholesale, retail, catering businesses

The city’s commerce bureau recently released plans to offer rewards to wholesale, retail and catering businesses to expand the market and tap its potential and enhance performance.

As per the support measures for maintaining stable economic growth, eligible retail enterprises will receive a 500,000-yuan (US$76,902) reward for every 100-million-yuan year-on-year retail sales growth in the first half of this year.

Eligible wholesale enterprises will be given a 50,000-yuan reward for each of its 100-million-yuan year-on-year increases in turnover in the first six months of this year. The maximum reward for a single retail or wholesale enterprise shall not surpass 5 million yuan.

A 50,000-yuan reward will be distributed to eligible catering firms for every 10 million yuan in operating income in the first half of this year. The highest reward for a single firm is capped at 1 million yuan.

According to the subsidy application guideline for retail enterprises planning to set up e-commerce businesses, eligible corporations must have their online stores selling physical commodities via the country’s major e-commerce platforms before July 1 and their actual expenses for opening, operation and promotion must be over 800,000 yuan.

They will receive 10% of the actual costs, with a 500,000-yuan maximum for a single enterprise.

Market entities that meet the requirements can apply for the rewards via the website http://www.gdzwfw.gov.cn/ from July 1 to 13.