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The Lin-gang Special Area has rolled out a policy package to help young entrepreneurs launch businesses with "zero threshold, zero cost".

On Aug 21, Lin-gang unveiled the "2+8+8" plan, which provides free office and apartment rentals to young entrepreneurs, aiming to create the city's most affordable and convenient startup hub.

The "2" refers to free use of offices and apartments.

Office space in prime, fully equipped buildings will be rent-free for three years, followed by half rent for two years. The first phase will open 20,000 square meters of ready-to-use space with one-stop services covering company registration, HR, and finance.

Nearby talent apartments will be rent-free in the first year with a two-year renewal option, including property management and canteen services. The apartments are just a five-minute drive from the office area, with shuttle buses provided.

The first "8" refers to eight innovative industries:

- Advanced technologies such as large aircraft, integrated circuits, and new energy vehicles

- Data processing

- Cross-border livestreaming

- Cross-border healthcare

- Short-drama production

- Game development

- Coding outsourcing

- Niche sports such as cycling, kayaking, and sailing

The second "8" refers to eight support measures:

- Business funding: Up to 500,000 yuan ($69,000) in grants, with no cap for outstanding projects.

- Financing: Up to 800,000 yuan in guaranteed loans.

- Residency: Special policies to help eligible talent settle in the Lin-gang area.

- Promotion: Building connections with major entrepreneurship events, leading platforms, and industry leaders.

- Traffic support: Up to 500,000 yuan in "traffic vouchers" to cut online promotion costs.

- Network support: Up to 100,000 yuan in "network vouchers" and 500,000 yuan in "computing vouchers", along with international lines and cross-border data services to build the fastest, most cost-efficient startup zone in the Yangtze River Delta.

- Logistics: Up to 500,000 yuan in "logistics vouchers", with bulk purchasing to lower delivery rates to the region's lowest.

- Global reach: Cross-border data, trade settlement, customs clearance, bonded warehousing, and other services.

The first projects in the youth startup hub are expected to begin operations in early September.

Source: Jiefang Daily