The Zhongshan Bureau of Commerce recently released a new set of rules to boost the high-quality development of business service projects.

According to the new policy, project promotion incentives are up to 20 million yuan, and rewards for economic contributions are up to 4 million yuan.

Project promotion incentives: if the new fixed assets investment reaches 100 million yuan or above (land price excluded) and relevant economic targets are met, the project owner should be granted a reward of 2 million yuan as a lump sum after the project is completed; if the new fixed assets investment reaches 1 billion yuan or above (land price excluded) and relevant economic targets are met, the project owner should be granted a reward of 20 million yuan as a lump sum after the project is completed.

Rewards for economic contributions will be granted on an annual basis. In the first calendar year after projects are put into operation, rewards of 1 million yuan and 4 million yuan should be granted according to operating performance. In the second calendar year after projects are put into operation, rewards should be granted according to actual performance with a maximum amount of up to 3 million yuan.

The new rules shall come into effect as of the date of release and remain valid for three years. The business service projects to be supported must be newly settled wholesale, retail, accommodation, and catering projects which utilize newly purchased land after the rules come into effect.