Wuhan Economic & Technological Development Zone (WEDZ) in Wuhan, Central China's Hubei province, released its 10 golden policies for market entities on April 2. According to the policies, the zone will seek to become home to more than 150,000 market entities by 2025.
The policies include aspects of business registration, market entry, subsidies, rewards, financing, a credit system, and flexible regulations.
Together with the zone's 33 measures promoting innovation and entrepreneurship and eight measures promoting the protection of intelligent property rights, the 10 golden policies are expected to unleash potentials and vitality of all kinds of market players, especially small, medium and micro-sized ones.
Under the new policies, newly-registered enterprises will receive business seals, fiscal processors, and other relevant services for free; e-commerce websites can be registered as business locations; and company founders who rent operation sites outside the zone's businesses incubation bases can apply for rent subsidies from the government.
A special fund for small and micro-sized enterprises will be set up, under which individual business operators and small and micro-sized enterprises can receive loans of up to 500,000 yuan ($78,350) and 10 million yuan, respectively.
College graduates, veterans, unemployed individuals, and other special groups are encouraged to establish new businesses and will be granted loan subsidies accordingly.
Please check the zone's Chinese official website for more detailed information about the 10 golden policies.
