Guangzhou's Huangpu district recently released the second version of supporting policies for the development of local cross-border e-commerce with greater support and wider coverage.

The district will allocate an annual fund of 50 million yuan ($7.85 million) to cross-border e-commerce enterprises to expand their import-export business. Leading cross-border e-commerce enterprises that set up operations in Huangpu will receive an award of 3 million yuan.

In addition, industrial parks and commercial edifices that have an area of more than 20,000 square meters and house more than 20 cross-border e-commerce enterprises will be granted a one-time subsidy of 300,000 yuan. The foreign trade value of each in-house cross-border e-commerce enterprise should exceed $5 million.

A one-time subsidy of 3 million yuan will be offered to enterprises that establish international logistics distribution centers or global warehouses, while an annual subsidy of up to 1 million yuan will be given to enterprises that establish overseas warehouses.

Companies that rent office areas in Guangzhou's artificial intelligence and digital economy pilot zones (Yuzhu) or warehouses in the Guangzhou Huangpu Free Trade Zone (FTZ) will receive a maximum annual subsidy of 500,000 yuan.

There are currently more than 100 cross-border e-commerce enterprises in Huangpu, and despite the COVID-19 pandemic, the district recorded more than 25 billion yuan in e-commerce imports and exports from January to October.