HAIKOU /China/, 10 November. /TASS/. The authorities of the city of Sanya in the southern Chinese province of Hainan will support the intensive development of the local convention and exhibition industry by issuing bonuses of up to 8 million yuan (more than $1.1 million at current exchange rates), the Hainan International Communication Network (HICN) reported.

According to the report, the Ministry of Commerce, together with the city's Finance Department, has approved measures to encourage market players to hold more large-scale exhibitions and conferences. This applies to forums that take longer than one day and require participants to stay in luxury hotels. If the event attracts between 500 and 5,000 people, the government can pay organisers up to 1.2 million yuan (about $170,000). Organisers of larger events are eligible for bonuses of up to 1.5 million yuan (about $210,000).

For exhibitions that last more than two days, where goods and technologies are demonstrated and investment and purchase negotiations take place, the amount of remuneration depends on the exhibition area. If it reaches 5,000 to 10,000 square metres, the daily bonus is 10 yuan ($1.4) per metre and 700 yuan ($97) for each standard stand. The maximum amount payable is RMB 1.2 million.

If the exhibition area exceeds 10,000 square metres, the Sanya administration will pay organisers 8 yuan ($1.1) per metre and 600 yuan ($84) per stand per day, with a maximum of 1.6 million yuan ($223,000). If foreign pavilions occupy more than 25% of the total exhibition area, an additional bonus of 200,000 yuan ($28,000) is payable.

If the conference or exhibition lasts more than 4 days, the incentives can reach 5-6 million yuan ($700,000 - $840,000). Stands should focus on topics such as tourism, consumption, modern finance, digital economy, seed cultivation, deep-sea technology, culture, arts and service trade. Forums combined with exhibition events are eligible for up to 8 million yuan. For events in May, June and September, an additional 20-30 % can be granted.

Exhibition activities are one of the fastest-growing industries in Hainan. According to a forecast by the regional Department of Commerce, its scale will increase steadily, with revenues exceeding 60 billion yuan (about $9.4 billion) by 2025. Official estimates put the growth rate at around 12 % over the next few years.