The city of Guangzhou recently launched 18 measures to boost the development of the first-store economy, drive the upgrading of Guangzhou's consumption structure, and hence promote the city's construction of an international city consumer center.

Operators of commercial facilities and neighborhood management organizations with an independent legal personality are encouraged to carry out investment promotion activities and introduce first stores. Up to 100,000 yuan ($14,000) will be awarded to one that brings in a new first store, with an annual maximum of 2 million yuan for each institution.

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

Domestic and foreign brands that have signed a two-year or more agreement to settle their first store in Asia, the first store on the Chinese mainland, and the first store in South China in Guangzhou, and open their first store in Guangzhou if their cost in rent and decoration exceeds 1 million yuan, will be granted a reward of no more than 20 percent of their actual cost in rent and decoration. The maximum award is 3 million yuan.

Stores that were opened by domestic and foreign brands through a two-year or more settlement agreement and have an independent legal personality, if upgraded to a brand flagship store with a turnover of no less than 5 million yuan in the previous year and a fitment cost of more than 2 million yuan, will get a reward of no more than 20 percent of their actual cost. The maximum amount is 2 million yuan.

Domestic and foreign brands, operators of commercial operators, well-known media, and planning and consulting agencies are encouraged to carry out new product launches and debut activities in Guangzhou. For those with over 500,000 yuan in venue rental and construction costs, a reward of no more than 30 percent of their actual cost will be granted, with the amount up to 1 million yuan.

Eligible enterprises or authorized agents that have set up first stores and then settled their regional headquarters or marketing headquarters in Guangzhou can also enjoy the city's relevant preferential policies for the headquarters economy.