Guangzhou to invest $1.5b in emerging industries

The Guangzhou city government recently released a new public policy encouraging the development of emerging industries.

According to the policy, the government will set up a special fund of 10 billion yuan ($1.46 billion) to support enterprises in the strategic emerging industries, advanced manufacturing and modern services sectors, as specified by the 13th Five-Year Plan (2016-20) of Guangzhou.

Funds will be dispersed in the form of establishment guidance fund investments, direct equity investments, allowances and subsidies. However, enterprises may only apply for one method.