Kick-off conference: Shenzhen-Guangming presents growth plan for European sensor companies

Shenzhen, Berlin, June 28, 2023 - The Shenzhen-Guangming Municipal Government together with diribo GmbH including the Global Sensors Competence Center Shenzhen held a kick-off conference to present a "Growth Plan China" for European sensor companies. Participants were representatives of German sensor companies, Shenzhen Guangming District Investment Promotion Service Center and Merchants Bank.

The event, aimed to explain the government promotion policy behind this growth plan. European participants had the opportunity to ask questions about the specific content of the promotion policy. The discussion also shed light on the issues of promoting purely sales-oriented enterprises and whether trade show appearances will also be supported.

"Shenzhen-Guangming mainly supports the growth of local enterprises. However, the interpretation of 'local' is not limited to registered enterprises, laboratories, research and development centers, and branch offices, but also includes support through partnerships with local enterprises," explained the Responsible person of the Shenzhen Guangming District Bureau of Industry and Information Technology.

The support program, devised by the Guangming District Administration in Shenzhen, offers various financial incentives for sensor and technology companies.

1. technology platforms: The funding program includes support for both the establishment of technology platforms for smart sensors and services and for the users of these platforms. Platform operators can receive subsidies in three phases up to a maximum of RMB 10 million. In addition, enterprises using these platforms can receive a subsidy of 50 percent of the platform's annual service fee (up to a maximum of RMB 200,000).

2. research subsidy: the subsidy program also benefits enterprises and institutions that conduct research and development in areas such as high-end sensors and hardware. The amount of subsidy varies depending on the national or municipal orientation of the research project and can reach up to 10 million RMB.

3. sales and procurement projects: The program likewise encourages companies to sell or purchase self-developed and designed smart sensors. It provides reimbursement of 20 percent of annual sales or procurement growth, up to a maximum of RMB 5 million, for both the seller and the buyer.

Specific conditions for applying for these grants vary, but generally require that companies operate in Guangming County and that their products or services conform to industry classifications established by Shenzhen. Municipal funding is also required for research projects.


About Shenzhen-Guangming
Guangming is located in the northwest of Shenzhen, adjacent to the Pearl River Estuary and Hong Kong. With a total area of 156.1 square kilometers and a population of about 1.1 million people, the "city within a city" reached a GDP of RMB 142.7 billion in 2022, generated by more than 80,000 enterprises. Among them are more than 20,000 manufacturing, 1,703 high-tech and 28 listed companies. Shenzhen-Guangming has been the fastest growing economic area in Shenzhen and China in recent years. The city government's declared goal is for Guangming to also become the global capital of sensor technology in the medium term.

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