Guangzhou's Tianhe district is seeking public opinion for its measures to help promote the transformation and upgrading of individually owned businesses and small and micro enterprises.

For individually owned businesses that transform and become enterprises above the designated size, a one-time subsidy of 20,000 yuan ($2,793.55) will be granted. An enterprise above the designated size refers to one that has an annual revenue of 20 million yuan or more.

Commercial carriers of more than 20,000 square meters and professional wholesale markets of over 5,000 sq m will be rewarded 5,000 yuan for each individually-owned business that they have helped be transformed into enterprises above the designated size. The maximum amount should be at most 500,000 yuan annually.

Industrial enterprises that are included in the statistics of enterprises above the designated size for the first time will get a one-time subsidy of 100,000 yuan.

The modern Tianhe district. [Photo/WeChat account: tianhefabu]

Accommodation enterprises upgraded to one above the designated size and have an annual turnover of 2 million yuan or more will be rewarded 100,000 yuan. Another 100,000 yuan will be given if they achieve a year-on-year 50 percent increase in their turnover in the second year, and then another 100,000 yuan if they maintain a positive growth rate that surpasses the average growth rate of Tianhe's accommodation industry in the third year.

For enterprises in the culture, sports, and entertainment industries included in the statistics of enterprises above the designated size for the first time, a subsidy of 50,000 yuan will be granted. Another 50,000 yuan will be given if they achieve a year-on-year increase of 15 percent or more in their operation revenue in the second year, and then another 50,000 yuan if having a growth rate of 10 percent or more in their output value in the third year.

An interest subsidy of at most 2 percent of loans will be given to enterprises that become one above the designated size. The annual amount for each enterprise should be at most 100,000 yuan.