Policy established to increase conventions, exhibitions
Growth of Zhuhai's convention and exhibition industry will be promoted with a maximum subsidy of 1.8 million yuan ($270,540) for eligible projects that meet show area, scale, and other indexes.
The Detailed Rules for Implementation of the Zhuhai Domestic & Foreign Commerce & Trade Development Fund was released Oct 15 by the Bureau of Commerce. The document is a revised version of the 2017 Interim Measures for the Use & Management of the Zhuhai MICE (Meetings, Incentives, Conferences & Exhibitions) Support Fund.
The new policies support newly settled conventions and exhibitions and those that closely complement Zhuhai's advantageous industries, urban character, and business demands, or are conducive to MICE cooperation with Hong Kong and Macao.
2020 Tea Expo Zhuhai [Photo by Li Jianshu & Zhong Fan / Zhuhai Daily]
International, domestic, ultra-large, and convention-augmenting conferences that last at least one day and night will receive 100,000 yuan ($15,000) to 1 million yuan ($150,300) depending on the number of participants and scale. The subsidies will be issued after the conventions and exhibitions are held.
In addition, up to 1 million yuan is available in the annual municipal budget for large venues that host commerce and trade exhibitions. Local MICE institutions and projects recognized by prestigious industrial associations such as the Global Association of the Exhibition Industry (UFI) and International Congress & Convention Association will be subsidized 60 percent of their annual membership fees for three consecutive years.
Enterprises that settle at the Zhuhai MICE Incubation Base will be funded 40 percent and then 30 percent and 20 percent of office rent over the first three years. The amounts for a single enterprise won't exceed 300,000 yuan ($45,090) in the first, 200,000 yuan ($30,000) in the second, and 100,000 yuan in the third year.
World-renowned MICE enterprises and organizations that establish regional headquarters or South China offices/branches in Zhuhai will receive 300,000 yuan for three consecutive years. The prerequisites are that they should have no fewer than 10 employees, host at least two conferences or exhibitions with total area of 20,000 sqm (5 acres) in one year, and generate at least 5 million yuan (751,500) in annual turnover.
Moreover, the fund will also support public service projects such as MICE talent training and promotional activities for the city's MICE industry.