Han Ximin

1824295095@qq.com

SHENZHEN is offering a one-time reward of 100,000 yuan (US$13,835) to culture, sports, and entertainment businesses that reach the threshold of designated scale for the first time, according to measures aimed at promoting the high-quality development of businesses.

Effective Monday, these measures seek to encourage enterprises to increase their scale and enhance market competitiveness.

Entities with an annual revenue in excess of 20 million yuan in their first year after being qualified will receive an additional reward equal to 2% of their business revenue, with the reward capped at 1 million yuan.

To support the growth of enterprises and strengthen their competitiveness, the measures will encourage culture, sports, and entertainment enterprises to utilize digital technology to develop new consumption scenarios and provide digital cultural products. For enterprises with a significant increase in business revenue, a reward of up to 1 million yuan will be given, calculated at 1% of increased business revenue from the previous year.

In terms of cultivating and attracting high-quality enterprises, the city will intensify promotions to attract well-known domestic and international enterprises in the cultural, sports, and entertainment industry to settle in the city. For newly introduced leading enterprises or related institutions, if their first year’s business income exceeds 20 million yuan, a one-time reward of up to 2 million yuan will be granted.

The measures encourage utilization of traditional theaters and theme parks to develop experiential, interactive, and immersive performances. For new performance venues that meet relevant standards, a subsidy of up to 1 million yuan will be provided based on the actual number of performances held.