Huangpu district (Guangzhou Development District) in Guangzhou, Guangdong province, has released measures supporting innovation and entrepreneurship of Hong Kong, Macao, and Taiwan youths.

The 10 governmental administrative norms provide preferential policies in terms of innovation incentives, platform construction, financial support, cooperation and exchange, as well as quality of life guarantees to residents of Hong Kong and Macao aged between 18 and 45 years old who start a business, take on a business innovation internship or obtain employment in Huangpu district. Preferential policies are also availabe for those entrepreneurs and organization founders that possess an equity shareholding ratio of over 25 percent.

Startup projects by Hong Kong and Macao youths settled in Guangzhou Development District that win awards in eligible innovation contests may receive a subsidy of 200,000 yuan ($29,106.57) at most. Those funded by the Hong Kong Youth Development Fund, the Hong Kong Innovation and Technology Fund Corporate Support Program, and the Macao Youth Entrepreneurship Assistance Scheme can be granted at most 1 million yuan with a 100 percent matching subsidy according to the criteria of the funding standards of Hong Kong and Macao. In addition, 1 billion yuan will be invested to establish the Guangdong-Hong Kong-Macao Greater Bay Area Youth Innovation and Entrepreneurship Fund, mainly assisting high quality programs.

Incubation carriers at the national, provincial, and municipal levels can receive a one-time subsidy of 1 million yuan, 500,000 yuan, and 250,000 yuan respectively. Every year, no more than three incubation projects will be supported with five million yuan at most. Free rent for office space in the first two years and 50 percent in the third year will be guaranteed to enterprises and organizations established by Hong Kong and Macao youths acting as incubation centers for innovation and entrepreneurship. Each recipient may receive a maximum subsidy of 500,000 yuan.

Taiwan youths working in the district are also able to enjoy the same preferential policies.