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Wenzhou highlights headquarters economy

ALMS|Updated: July 26, 2022


A bird's-eye view of Wenzhou in East China's Zhejiang province. [Photo/IC]

Wenzhou in East China's Zhejiang province recently rolled out a series of measures to support the high-quality development of headquarters enterprises, local media outlets reported.

The coastal city has set a goal of attracting and cultivating more than 100 headquarters enterprises every year and strives to be home to more than 100 global top 500 enterprises, China’s top 500 enterprises, large State-owned enterprises, unicorns, and headquarters of listed enterprises within the next five years.

Enterprises in Wenzhou that have set up headquarters there and are generating output revenue of over 1 billion yuan ($148 million) will get respective bonuses of 10 million yuan, 5 million yuan, 3 million yuan, and 2 million yuan from the Wenzhou government if they rank among the global top 500 enterprises, China's top 500 enterprises, China's top 500 manufacturers or private enterprises, and Zhejiang's top 100 enterprises, manufacturers or private enterprises.

Headquarters enterprises that set up operations in Wenzhou will also be rewarded a settling-in allowance equal to a certain proportion of the enterprise's paid-in registered capital. The award funds will be cashed each year.

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