Shenzhen providing rewards for outstanding overseas Chinese

Updated: 2013-11-05

CIEP will have 40 million yuan ($6.56 million) to provide as subsidies for enterprises overseas Chinese set up, in Shenzhen, with 32 million yuan of it for start-ups, and five innovative environmental development and construction projects, getting 1 million yuan each in support -- Pioneer Park, Pingshan Pioneer Park, International Technology Pioneer Park, Guangming Pioneer Park, and Longhua Pioneer Park, all for returning overseas Chinese.

Shenzhen has policies to attract professionals from overseas, with subsidies for setting up pioneer and industrial parks. Since 2000, it has provided 10 million yuan every year for innovative environmental construction and development projects, which has helped attract many professionals. By the end of 2012, it had increased its subsidies, of the highest of which was 500,000 yuan, and second-tier, 250,000 yuan, and the third, 150,000 yuan.

This year has seen 170 start-up applications from the overseas Chinese, worth 32 million yuan in subsidies for the Internet of things, advanced manufacturing, electronic information, finance, software, bio-chemicals, new energy, new materials, medical equipment, education, culture, and engineering. Of those, 135 had 1 million yuan in registered capital and 26 had 5 - 10 million yuan.

There will be three pioneer parks in Shenzhen’s new Guangming and Longhua districts to be annunced at this year’s CIEP, in an attempt to get more Chinese professionals to return to China as entrepreneurs -- Longhua, Zhonghaixin, and Guangming. Some private capital from companies such as Zhonghaixin Investment-Holding, have taken part in this incubator construction, helping ease the government’s land and staff burdens.

Its foreign expert bureau reports 11 pioneer and industrial parks for overseas Chinese in 11 districts, including Nanshan, Futian, Luohu, Longgang, Bao’an, and Yantian, which provide facilities, start-up training, finance, management consulting, and marketing services for more than 1,700 enterprises. The city hopes to build a large entrepreneur platform.

In the 13 years since 2000, these parks have become a boundless pioneer park cluster and a key incubator for new, high technology, new high-tech companies, and a place where overseas Chinese realize their dream. They have done a lot in attracting international professionals, nurturing new companies, and promoting high-tech industrial development in the city.

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