NETDA rolls out policies to bolster digital cultural, creative industry

Authorities of the Nantong Economic and Technological Development Area (NETDA) in East China's Jiangsu province recently released a series of policies to bolster its digital cultural and creative industry.

According to authorities, the policies are aimed at providing support to enterprises engaged in digital content, modern media, creative design and advertising communication.

Specifically, the local government will provide subsidies for up to 80 percent of rent to digital companies that pay social security for 20 employees for more than six months.

Authorities will also give an award of 3 million yuan ($411,786.34) to digital enterprises above designated size.

Enterprises that adopt technologies related to the metaverse, blockchain, artificial intelligence, and cloud computing to develop original products will receive an award of up to 5 million yuan.

In addition, authorities will provide financial support ranging from 500,000 yuan to 5 million yuan to companies that have established famous brands, possess a large market share, and attract high-caliber talent.