Recently, Guangzhou has rolled out a series of measures to attract brands to set up their first stores in the capital city of Guangdong Province in southern China, as part of its efforts to build itself into an international consumption center.
Based on these measures, Guangzhou plans to help international brands explore locations for their first stores in the city. It aims to build clusters for enterprises to establish their first stores and display their new products in Guangzhou.
The measures also provide support for domestic and foreign brands that have signed agreements to settle down in Guangzhou for two years. These brands mark their first stores in Asia, the Chinese mainland, South China, or Guangzhou. Those whose total costs of rent and decoration are not less than one million RMB will enjoy a subsidy worth 20 percent of the approved actual investment cost at most, up to three million RMB.
Stores of domestic and foreign brands with independent legal representatives and settlement agreements for 2 years or more in Guangzhou, whose turnover last year was not less than five million RMB with a total decoration cost exceeding two million RMB, will be granted a subsidy worth 20 percent of the approved actual investment cost at most, up to two million RMB.
Moreover, eligible enterprises or authorized agents that establish their regional or marketing headquarters in Guangzhou can also enjoy the city's preferential policies and services for headquarters.