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China’s Incentives for New Stores of Retail Brands

Beijing Municipal Commerce Bureau released the “Guidelines for the Application of Initial Projects Encouraging the Development of Commercial Brands in 2023” (Beijing Business Consumer Promotion [2023] No. 19) on March 6, 2023.


For enterprises in Beijing (legal entity) that open new domestic and foreign brands in Beijing after November 1, 2021, including the first store in Asia, the first store in China (mainland), the first store in Beijing, the flagship store, and the innovative concept store, if the total amount of store decoration (including decoration and design fees, equipment procurement, and construction of supporting hardware and facilities) and rental fee paid (no more than 12 months) exceeds 500,000 yuan, and has a stable performance and good growth potential, financial support will be provided.


Retail enterprises can receive up to a maximum of 50% of the total investment approved for the project, with a maximum of 5 million yuan for the first store in Asia, 2 million yuan for the first store in China (mainland), and 1 million yuan for the first store, flagship store, and innovative concept store in Beijing.


Catering enterprises will be supported by up to 20% of the approved total investment of the project, with a maximum of 500,000 yuan.


Source: http://www.beijing.gov.cn/zhengce/zhengcefagui/202303/t20230308_2931819.htmll

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