Siming district in the coastal city of Xiamen, East China's Fujian province released a slew of measures on March 3 to promote the development of its private?equity?investment industry.

These measures include offering rent subsidies and rewards for eligible companies, as well as providing subsistence allowance to high-level talents.

According to the measures, newly-established fund companies in the Siming Private Equity Investment Fund Nesting Zone will be able to enjoy rent subsidies for three years since their establishment in the zone. The local government will also offer a reward of 3 percent of a company's operating profit for those companies that have an annual operating profit of 2 million yuan ($316,485.74). Talents who have worked in the nesting zone for one year will be offered a one-time subsistence allowance of 30,000 yuan per PhD?holder and 20,000 yuan per postgraduate degree holder.

According to the local government, these measures are part of Siming's efforts to promote the high-quality development of its private?equity?investment industry. They are also part of the district's efforts to reach its goal of "focusing on the wealth management business and expanding private?equity?investment in order to develop Siming into a hub for the private equity industry in China" in the 14th?Five-Year?Plan?(2021-25) period.

Siming district in the coastal city of Xiamen, East China's Fujian province releases a slew of measures to promote the development of its private?equity?investment industry. [Photo/siming.gov.cn]