This photo shows a part of the Guangming Science City in Shenzhen, south China's Guangdong province on April 17, 2023. (PHOTO / XINHUA)

Shenzhen on Monday unveiled various measures to boost development of the convention and exhibition sector as it strives to attract more businesses and people to invest and run operations in the city. 

According to the new measures launched by the Commerce Bureau of Shenzhen Municipality, a one-off 5 million yuan ($718,484) incentive will be granted to newly introduced exhibition projects that rank among the top 100 in the world. 

The launch of the Shenzhen measures comes as Hong Kong is also stepping up its efforts to promote conferences and exhibitions, one of its pillar industries

A one-off financial support payment of 3 million yuan will be given for the introduction to the city of exhibition projects that rank in the nation’s top 100, and 1.5 million yuan for the introduction of international conferences.

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To attract more international conferences to be held recurrently in Shenzhen, the city will offer up to 1 million yuan as an incentive for each session. International conferences need to meet certain requirements to qualify: exhibitors from no fewer than five countries, regions or international organizations must take part; no fewer than 100 participants must take part; overseas participants must account for at least 20 percent of the total, etc. 

The move is part of Shenzhen’s push to develop itself into an international center for conferences and exhibitions. According to the bureau, more than 50 exhibitions were held in Shenzhen in the first quarter of this year and the city is expected to organize nearly 200 over the whole year. 

The launch of the Shenzhen measures comes as Hong Kong is also stepping up its efforts to promote conferences and exhibitions, one of its pillar industries. 

The special administrative region has organized a number of international exhibitions and conferences since it fully resumed cross-border travel with the Chinese mainland in February. 

Monica Lee-Müller, managing director of Hong Kong Convention and Exhibition Centre (Management) Ltd, said about 100 exhibitions and over 1,000 conferences, trade fairs and other events are held at the center every year. Although Hong Kong’s convention and exhibition sector was hit by the COVID-19 pandemic, its recovery has been accelerating since the border reopened, she said. 

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As the impact of the pandemic fades, global exhibitors and buyers hope to participate in off-line events and Hong Kong is a top location, she added. 

The HKSAR government launched the Convention and Exhibition Industry Subsidy Scheme in 2020, providing HK$1.07 billion ($136.5 million) to help the industry weather the tough economic conditions experienced during the pandemic. As of the end of November, it had subsidized 199 exhibitions, involving HK$550 million.

The government will launch a HK$1.4 billion three-year scheme on July 1 to subsidize recurrent exhibitions to be staged in Hong Kong in the coming three years.

Contact the writer at sally@chinadailyhk.com