Shanghai announce beneficial policy for eSports companies

On July 2nd, the government of Yangpu District, Shanghai city released a new policy consisting of 23 provisions aimed at helping eSports grow in the district. Companies that meet certain criteria will enjoy many benefits, including office space subsidies, operational assistances, IPO incentives, talent recruitment subsidies and better administrative services.

The policy applies to companies and organizations that are registered in the Yangpu district, and are independent legal entities. They must have a good credit record and operate in the eSports industry to qualify for the beneficial policy.

Specifically, eSports companies that are registered in Yangpu District and meet certain conditions will enjoy subsidies for owning or renting a property for their own business use. If such a company is successfully listed, they will enjoy an incentive of up to RMB 3.5m. Top talents hired by these companies will be allowed to live in specially arranged apartment buildings in the district, and enjoy benefits in obtaining residence permits, exit-entry permissions and hospital services. The administrative workflow will also be greatly simplified so that company representatives do not need to embark on as many trips to get paperwork done.

To summarize, the policy plans to foster an efficient, regulated, and fair eSports market in Yangpu District.

Reference: Tencent

Proofread by Raymond Fitzpatrick