Nansha releases measures to support sci-tech innovation

The Nansha area of the China (Guangdong) Pilot Free Trade Zone recently issued a series of measures to support scientific and technological innovation. 

The measures aim to further implement the area's innovation-driven development strategy, accelerate the construction of Nansha into an important area of the international science and technology innovation center in the Guangdong-Hong Kong-Macao Greater Bay Area, as well as further enhance the attractiveness of Nansha's science and technology innovation policy to high-end science and technology resources and talents.

The measures stipulate that a maximum of 10 million yuan ($1.44 million) in housing subsidies will be given to high-level scientific and technological talents, and a maximum of 100 million yuan will be given to high-level talent team projects that meet the development needs of key industries in Nansha, and a subsidy of up to 100 million yuan will be given to new R&D institutions during their construction period.

Each major technological innovation platform can receive up to 200 million yuan in financial support. The measures also encourage enterprises to increase investment in R&D, providing a one-time financial reward of up to 10 percent of the expenditure on R&D, with the maximum reward being 10 million yuan.

Nansha will also arrange 100 million yuan each year to provide up to 10 million yuan in financial support for individual projects to innovative entities that carry out R&D activities.