A document on further boosting the development of the modern shipping service industry in Guangzhou Development District (GDD) was released on July 14.
The document noted that rewards will be available for relevant projects or people in seven fields, such as projects' settling, talent introduction, operation contribution, and industrial clustering.
Companies managing shipping finance, as well as shipping trade and services for cruises, yachts, and ships newly set up in GDD can receive a reward of up to 3 million yuan ($428,444.73) as long as the company's paid-up registered capital is over 50 million yuan.
Companies offering services like smart shipping services and shipping legal services that have been newly set up in GDD with a paid-up registered capital of more than 2 million yuan will be able to receive a reward of 10 percent of its paid-up registered capital up to 3 million yuan.
Shipping functional mechanisms newly established in areas like shipping arbitration, maritime law, and shipping think tanks can receive a reward of up to 3 million yuan.
In addition, companies meeting the aforementioned requirements are eligible for a reward of up to 50 million yuan according to their contribution to regional economic development.
Companies are encouraged to conduct services in shipping routes operation and water leisure travel in GDD with those operating routes like international cruise routes can receive a reward of up to 20 million yuan per year.
New companies of institutions renting lands for their own offices can receive a subsidy of 50 percent of the actual rent if they can be above designated size within the expiration date of the document, with the subsidy for each company or institute being up to 600,000 yuan per year.