This English translation is for reference only. The Chinese version shall prevail in case of any inconsistencies.
Notice on Issuing theMeasures to Promote Innovation and Entrepreneurship among Macao Youth in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin
All bureaus under the Executive Committee:
The Measures to Promote Innovation and Entrepreneurship among Macao Youth in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin have been approved upon deliberation at the session of the Executive Committee of the Cooperation Zone and are hereby issued for your implementation. Should any issues arise during implementation, please promptly report them to the Livelihood Affairs Bureau of the Cooperation Zone.
The Livelihood Affairs Bureau of the Guangdong-Macao In-Depth Cooperation Zone
in Hengqin
December 29, 2023
Normative Document No. 2/2023 of the Livelihood Affairs Bureau
Measures to Promote Innovation and Entrepreneurship among Macao Youth in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin
Article 1.
Purpose of the Measures
To implement the Master Plan for the Construction of Guangdong-Macao In-Depth Cooperation Zone in Hengqin and the Regulations on Promoting the Development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, support Macao youth in participating in the construction of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (hereinafter referred to as the “Cooperation Zone”) and integrating into national development strategies, to promote the development of innovation and entrepreneurship platforms for Macao youth in the Cooperation Zone, and to encourage Macao youth to launch innovation and entrepreneurship ventures within the Cooperation Zone, these Measures are hereby formulated.
Article 2.
Definition
For the purposes of these Measures and other relevant guidelines, the following definitions apply:
1. “Commercial office buildings” refer to office premises within the Cooperation Zone that are designated for office use in land use planning (including cultural and creative industries, scientific research and education, and high-tech industries) and that possess valid real estate ownership certificates;
2. “Macao youth” refers to residents of the Macao Special Administrative Region between the ages of 18 and 45 (inclusive)；
3. “Macao youth entrepreneurship enterprises” refer to enterprises legally registered in the Cooperation Zone in which Macao youth collectively hold no less than 51% of the shares;
4. “National or provincial-level innovation and entrepreneurship competition awards” refer to awards obtained in national or provincial-level innovation and entrepreneurship competitions;
5. The terms “maximum”, “no less/fewer than”, “at least”, and “not exceeding” as used in these Measures shall be interpreted as inclusive of the stated value.
Article 3.
Application Conditions
To be recognized as Macao youth innovation and entrepreneurship bases in the Cooperation Zone (hereinafter referred to as “base(s)”), commercial office buildings shall meet the following criteria:
1. The commercial office building is located within the Cooperation Zone;
2. The building area is no less than 3,000 square meters;
3. The commercial office building is equipped with comprehensive public facilities, including public networks, reception areas, conference rooms, printing areas, rest areas, and other supporting facilities.
The operating entity of the commercial office building shall also meet the following conditions:
1. The operating entity holds usage rights to a commercial office building that meets the above criteria for a period of no less than three years, and the building shall be registered as domicile or filed as business premises；
2. The operating entity possesses a clear industrial development direction, development plan of the base, and sound management systems and operational mechanisms；
3. The operating entity shall have a dedicated operating management institution or department, with a full-time management team of no fewer than 10 members and at least 5 entrepreneurial mentors;
4. The operating entity shall be capable of providing services such as enterprise registration, financial accounting, intellectual property support, entrepreneurship training, legal services, policy coordination, and project matching, and shall also have a robust graduation and assessment system;
5. The operating entity shall provide investment and financing services, with the base either possessing its own seed funds or maintaining partnerships with at least five venture capital institutions, and having access to incubation funds totaling no less than RMB 2 million;
6. The operating entity shall meet the substantive operation requirements stipulated in Rules for Determining the Substantive Operation of Enterprises in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (Normative Document No. 2/2023 of the Executive Committee)；
7. During the application for or receipt of support or rewards under these Measures, the operating entity shall not be included in List of Enterprises with Abnormal Business Operation, List of Enterprises with Serious Unlawful and Dishonest Acts, List of Dishonest Judgment Debtors, and List of Unreachable or Non-Compliant Institutions;
8. The operating entity shall commit to remaining in the Cooperation Zone or maintaining its tax obligations within the Cooperation Zone for five years from the date of receiving the final installment of subsidy payment.
Article 4.
Base Recognition Procedures
Base recognition will follow a process of “centralized application and unified review”, as outlined as follows:
1. Announcement. The Livelihood Affairs Bureau of the Cooperation Zone will issue recognition notices on a quarterly basis and specify acceptance timelines and application guidelines；
2. Application for Approval. Operating entities shall submit recognition applications to the Livelihood Affairs Bureau of the Cooperation Zone within the stipulated timeframe. Complete applications will be accepted for further review and an acknowledgment receipt will be issued; entities with incomplete applications will be notified of missing items, which shall be submitted within a specified timeframe; failure to do so will be deemed a withdrawal of the application;
3. Review Meetings. Within 30 days upon receiving complete applications, the Livelihood Affairs Bureau of the Cooperation Zone will organize expert review meetings and invite representatives from Macao institutions and provincial entrepreneurship experts to participate in on-site verification;
4. Re-examination of Results. Based on the review result and on-site verification, the Livelihood Affairs Bureau will conduct a re-examination to finalize the list of proposed bases for public announcement;
5. Public Announcement. The list of newly recognized bases will be published on the Livelihood Affairs Bureau’s official website for seven days. If no objections are raised during the public announcement period, or if any objections are investigated and found to be unsubstantiated, the bases shall be officially recognized as “Macao Youth Innovation and Entrepreneurship Base of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin” and publicly announced;
6. Supervision Agreements. The Livelihood Affairs Bureau will enter into supervision agreements with the operating entities of the newly recognized bases.
Article 5.
Support Standards
Bases with Macao youth entrepreneurship enterprises that are in substantive operation and occupy at least 30% of the total office space may be eligible for a one-time subsidy of RMB 1 million.
Bases that have been in operation for at least one year, with Macao youth entrepreneurship enterprises occupying 70%, 80%, or 90% of the total office space, may receive operational subsidies of RMB 500,000, RMB 800,000, or RMB 1 million, respectively. For bases that progressively reach higher subsidy levels, the corresponding difference will be compensated.
During the validity period of the supervision agreement, bases that meet the following annual operational targets may receive cumulative subsidies of up to RMB 600,000:
1. If the base hosts investment and financing matchmaking events targeting Macao youth entrepreneurship enterprises and serves at least 20 enterprises per session, a subsidy of up to RMB 20,000 per event may be granted, with a maximum annual limit of RMB 200,000;
2. If the base hosts intellectual property or technical service matchmaking events targeting Macao youth entrepreneurship enterprises and serves at least 10 enterprises per session, a subsidy of up to RMB 20,000 per event may be granted, with a maximum annual limit of RMB 200,000;
3. If the base organizes enterprise exchanges, market matchmaking, or product matchmaking activities for Macao youth entrepreneurship enterprises and serves no fewer than 50 enterprises per session, a subsidy of up to RMB 20,000 per event may be granted, with a maximum annual limit of RMB 200,000.
Article 6.
Base Recognition Rewards
If the base is recognized as a “National Entrepreneurship Incubation Demonstration Base”, “Guangdong Provincial Entrepreneurship Incubation Demonstration Base”, or “Guangdong-Hong Kong-Macao Greater Bay Area Hong Kong and Macao Youth Innovation and Entrepreneurship Base”, a 1:1 matching reward may be provided, based on the actual funding or rewards received.
If the base is recognized as a “Zhuhai Entrepreneurship Incubation Base” or “Zhuhai Hong Kong and Macao Youth Innovation and Entrepreneurship Base”, the base may receive rewards from the Livelihood Affairs Bureau of the Cooperation Zone in accordance with Zhuhai’s relative standards.
Article 7.
Conditions for Macao Youth Entrepreneurship Enterprises to Receive Support
Macao youth entrepreneurship enterprises applying for support or rewards shall meet the following conditions:
1. Applicants shall meet the substantive operation requirements stipulated in Rules for Determining the Substantive Operation of Enterprises in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (Normative Document No. 2/2023 of the Executive Committee)；
2. During the application for or receipt of support or rewards under these Measures, the operating entity shall not be included in the List of Enterprises with Abnormal Business Operation, List of Enterprises with Serious Unlawful and Dishonest Acts, List of Dishonest Judgment Debtors, or List of Unreachable or Non-Compliant Institutions;
3. The operating entity shall commit to remaining in the Cooperation Zone or maintaining tax obligations within the Cooperation Zone for five years from the date of settling in a base.
Article 8.
Application Procedures
The application for support by Macao youth entrepreneurship enterprises shall follow a process of “centralized application and unified review”, as outlined as follows:
1. Announcement. The Livelihood Affairs Bureau of the Cooperation Zone will issue recognition notices specifying acceptance timelines and application guidelines on a quarterly basis；
2. Application for Approval. Macao youth entrepreneurship enterprises shall submit applications within the stipulated period. Complete applications will be accepted for further review and an acknowledgment receipt will be issued; applicants with incomplete applications will be notified of missing items, which must be submitted by the applicants within a specified timeframe. Failure to do so shall be deemed a withdrawal of the application.
3. Review Meetings. Within 30 days upon receiving complete applications, the Livelihood Affairs Bureau of the Cooperation Zone will invite representatives from Macao institutions and provincial entrepreneurship experts to participate in the review meetings, and provide review opinions within 10 days after the meeting.
4. Settlement Agreements. The operating entity of the base shall sign settlement agreements with the Macao youth entrepreneurship enterprises.
Article 9.
Support Standards for Macao Youth Entrepreneurship Enterprises
Macao youth entrepreneurship enterprises that settle in bases may receive the following venue rental subsidies, with support available for up to 36 consecutive months for the same enterprise:
1. Office space rental support. Rental reductions may be provided according to a standard of no more than 15 square meters of office space per person based on the number of employees who have signed labor contracts with the enterprise, pay individual income tax in the Cooperation Zone, participate in social insurance, and work on-site.
2. Office workstation rental support. Rental reductions may be provided to a standard of no more than one workstation per person based on the number of employees who have signed labor contracts, pay individual income tax in the Cooperation Zone, participate in social insurance, and work on-site.
Subsidies will be granted by the Livelihood Affairs Bureau to the base operating entities on a quarterly basis. The subsidy standards per square meter or per workstation shall be determined annually by third-party evaluation institutions. If the evaluated subsidy exceeds the actual rent, the actual rent shall apply.
Article 10.
Rewards for Macao Youth Entrepreneurship Enterprises
Macao youth entrepreneurship enterprises that have operated substantively in the bases for six months may be granted a one-time reward of RMB 30,000.
After settling in the bases, Macao youth entrepreneurship enterprises that win national or provincial-level innovation and entrepreneurship competitions or receive grants from the Macao government may be provided a lump-sum marching grant on a 1:1 basis, up to a maximum of RMB 2 million.
Macao youth entrepreneurship enterprises that have received 36 months of policy support may qualify for an additional two-year rental subsidy (according to Article 9 of these Measures), provided that the enterprises meet one of the acceleration criteria below:
1. Enterprises that are included in the Cooperation Zone’s statistical database of enterprises above a designated size, and continue to meet the criteria for enterprises above a designated size in their respective industries during the rental reduction period (excluding enterprises classified under real estate development and operations);
2. Enterprises that win awards in national or provincial-level innovation and entrepreneurship competitions;
3. Enterprises that receive grants or repayable funding of at least RMB 500,000 from the Macao Special Administrative Region Government;
4. Enterprises that are certified as national high-tech enterprises;
5. Enterprises that accumulate angel investment or venture capital of at least RMB 3 million;
6. Enterprises that achieve cumulative operating revenue of at least RMB 6 million for more than two consecutive years;
7. Enterprises that are listed or quoted on domestic or international capital markets, including the Main Board, SME Board, ChiNext, STAR Market, New Third Board, or regional equity trading centers.
Article 11.
Applicable Rules
In cases where these Measures overlap or conflict with other policies issued by the Cooperation Zone, applicants may choose the more favorable option under the principle of “prioritizing higher standard without duplication”.
Enterprises that have benefited from the Macao youth innovation and entrepreneurship support policies in Hengqin for a cumulative period of less than 36 months prior to the effective date of these Measures and that meet the conditions stipulated herein may, from the date of first receiving other innovation and entrepreneurship support funds in Hengqin, continue to receive support in accordance with the standards of these Measures until the cumulative period reaches 36 months.
Eligible youth from the Hong Kong Special Administrative Region and the Taiwan region may also apply for support under these Measures.
Article 12.
Supervision and Administration
Funds disbursed under these Measures are subject to audits and supervision by relevant authorities and public oversight.
Applicants who engage in fraud, obtain funds through improper means, or violate their commitments by relocating out of the Cooperation Zone, or altering their tax obligations after receiving support or rewards shall have their eligibility canceled. The applicants shall also return all received funds and pay interest calculated at the current Loan Prime Rate (LPR). The Livelihood Affairs Bureau will report the matters to relevant department according to applicable national laws or regulations. Cases involving suspected criminal activity shall be referred to the appropriate legal authorities in accordance with the law.
Article 13.
Implementation
The Livelihood Affairs Bureau of the Cooperation Zone is responsible for formulating and implementing these Measures.
The Livelihood Affairs Bureau will also formulate the application guidelines for the support and awards under these Measures.
Article 14.
Power of Interpretation
The Livelihood Affairs Bureau of the Cooperation Zone reserves the right to interpret these Measures.
Article 15.
Effective Date and Validity Period
These Measures shall come into force on February 1, 2024 and remain valid for a period of three years.