The Beijing Municipal Commerce Bureau recently issued the Notice on Issuing 2023 Application Guidelines for Encouraging the Development of Projects Concerning Commercial Brands' First Stores and New Product Launches. According to the notice, this year Beijing provides funding support up to CNY 5 million, CNY 2 million and CNY 1 million for a brand's first Asian store, first store in the Chinese mainland, and first store in Beijing respectively.

The notice specifies the conditions for financial support. An eligible enterprise shall be an independent legal person in Beijing with steady business performance and good potential for future development. Moreover, the enterprise shall have established the first Asian store, the first Chinese mainland store, the first Beijing store, a flagship store, or an innovative concept store in Beijing for a Chinese or foreign brand on or after November 1, 2021, with the cost of store decor and paid rent (less than 12 months) exceeding CNY 500,000.

Financial support is also provided for entities introducing first stores. Specifically, entities will be rewarded for signing agreements of two or more years with and becoming home to first stores, flagship stores, and innovative concept stores on or after November 1, 2021, which have been set up by retail enterprises above the statistics-related designated size in Beijing. The maximum reward will be CNY 100,000 for introduction of each additional store of the abovementioned type.　

Subsidy policies have been put in place for new product launch activities. Enterprises as independent legal persons in Beijing can obtain a subsidy amounting to 50 percent of the total cost of premises renting and renovation, publicity, and promotion for new product launch activities held for famous domestic or foreign brands on or after November 1, 2021. The maximum subsidy will be CNY 2 million for new product launches related to clothing, accessories, cosmetics, watches, bags and suitcases, and jewelry, and CNY 1 million for other types of new product launches. 　

(Source: Beijing Daily)