Strong Financial Support
Since 2015, Guangzhou has implemented policies to facilitate research commercialization, with a particular emphasis on the role of enterprise in this process. In particular:
- The Guangzhou Science, Technology and Innovation Commission has planned to allocate more than 80% of the city's science and technology funding to projects led by business in 2018.
- The government will also help more than half the city's industrial enterprises above a designated size establish R&D bases.
- Enterprises buying scientific and technological patents can seek government subsidies of 5% of the value of research result transactions.
- Newly-established sci-tech companies can also apply for subsidies of 50% of their rent for three consecutive years.