Shenzhen’s Qianhai economic zone has launched its first district-level policy to attract research and development (R&D) centres, offering financial support, tax incentives and rental concessions in a bid to position itself as a global innovation hub, regional media reports.
Introduced on 22 September, the pilot initiative allows eligible corporate R&D centres to apply for up to 2 million yuan (US$275,000) in research reserve funds. Multinational firms establishing global R&D centres in Qianhai may qualify for an extra 6 million yuan. Funding will be disbursed over three years on a 40-30-30 split.
Other measures include annual subsidies covering 20 percent of eligible R&D expenses – such as direct research costs, depreciation, and intangible asset amortisation – capped at 3 million yuan. Office rental support is also on offer, with multinational R&D centres receiving two years of rent-free space and a 70 percent discount in the third year, while other centres can access one year rent-free and a 50 percent discount in the second year.
[See more: The Shenzhen-Hong Kong-Guangzhou cluster comes first in global innovation]
Tax breaks are a key feature. High-end overseas talent can receive tax-exempt subsidies for individual income tax above 15 percent. Hong Kong residents working in Qianhai , meanwhile, will not pay more than Hong Kong’s tax rate. Eligible R&D centres can also get a reduced corporate tax rate of 15 percent.
Measures have been designed to encourage alliances with universities, research institutes, and industry partners. Companies involved will also be able to streamline cross-border capital, talent and data flows, and benefit from expedited intellectual property reviews and legal support for overseas disputes.
To qualify, applicants must be engaged in substantial R&D in Qianhai, with at least 20 full-time researchers and a cumulative R&D investment in Shenzhen of no less than US$2 million. Higher thresholds apply for multinational designations. Applications for the 2025 funding cycle are now open via Qianhai’s enterprise service platform.
