[Photo/Haizhu government]

Having attached great importance to the convention and exhibition industry, Haizhu district in Guangzhou recently released preferential policies to boost the industry's development.

The district plans to offer enterprises financial stimuli totaling 20 million yuan ($3.09 million) a year.

According to the policies, a maximum of 300,000 yuan will be awarded to newly registered enterprises in Haizhu when their revenue exceeds 5 million and 10 million yuan for the first time. For existing exhibition enterprises whose revenue growth rate exceeds the industry’s average, a maximum of 500,000 yuan will be granted.

To bolster the district’s exhibition business, Haizhu also plans to give subsidies to professional exhibitions.

For those covering an area over 6,000 square meters, the organizers are eligible for rewards up to 500,000 yuan for each of the first three sessions.

For exhibitions where overseas exhibitors take up 20 percent of the area, the organizers are expected to receive 300,000 yuan.

Moreover, security fees will be deducted and up to 500 parking spaces will be provided for free at any given exhibition.

As for qualified exhibition industrial parks and industry conferences, the reward could be up to one million yuan.

Several other preferential policies are being planned to further encourage the digitalization of the exhibition industry and attract more talents, said the Haizhu government.