E arm for Futian’s fashion industry
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ude arch and development in the fashion sector, and talent awards for fashion designers, aimed at encouraging more flagship stores to settle in the district.
“After the finance industry, and architecture and decoration sectors, the fashion industry is the third pillar in Futian District in terms of economic output, so we ought to give more support to the fashion industry and people working in this field,” He told the forum.
Futian is currently home to more than 300 fashion companies that provide over 80,000 jobs, according to He.
The district will offer funds to fashion enterprises with an annual of output of 3 million yuan ($474,000) and expenditure of 500,000 yuan on R&D each year. The funding will amount to 10 percent of the sponsored company’s R&D spending, and be capped at 3 million yuan.
For fashion companies that have made significant achievements in the previous year and plan to open flagship stores covering more than 300 square meters in Futian, the district government will shoulder 50 percent of the costs, and each store will receive a one-off subsidy of up to 1 million yuan.
The forum, jointly hosted by the Futian District Government, the Futian District Cultural Industry Development Office, the Shenzhen Garment Industry Association (SGIA) and Shenzhen Evening News, was to allow fashion practitioners to discuss the industry’s future in Shenzhen and the country as whole.
Mario Boselli, honorary president of the Italian Fashion Chamber, said he believed that deeper exchanges and communication among young fashion designers from both countries would be of great significance.