In order to stir up the relocating momentum in Guangdong, the provincial government announced that it would budget RMB 50 billion in the relocation programs in the next five years. The plan was announced by Wu Jin, deputy director of the Department of Trade and Economic Cooperation, at a forum held yesterday (3 July) in Hong Kong. In particular, as much as RMB 3 billion would be allocated each year to construct the relocating industrial parks in the western, eastern and northern parts of Guangdong. The government would also inject 500 million annually into an incentive fund that provides grants to relocating enterprises. The funding programs are intended to assist the relocation process of manufacturers.

The details of the funding program and requirements for application are not yet released. The secretariat will continue to follow up on the issue and keep members posted for the latest development.