The Management Method of the Development Fund for the MICE (meetings, incentives, conferences, and exhibitions) Industry in Hainan Province was released on Aug 4 and will take effect on Sept 1.
The development fund will be applicable to professional exhibitions and conferences sponsored or participated in by the Hainan Provincial People's Government, professional exhibitions and conferences under key cultivation of the provincial government, newly settled professional exhibitions that rank among the top three among nationwide peers, as well as newly settled high-end international conferences. The Department of Commerce of Hainan Province will take charge of the appraisal.
According to the document, Hainan will offer a maximum reward of 5 million yuan ($719,500) to organizers of professional exhibitions and conferences that are under key cultivation of the provincial government. An additional 2 million yuan will be granted to organizers of newly settled professional exhibitions that rank among the top three among nationwide peers and high-end international conferences.
Rong Yansong, deputy head of the Department of Commerce of Hainan Province, said that the MICE industry plays a significant role for Hainan's development of its modern service sector and its efforts to establish itself as an international tourism and consumption center.
Rong Yansong, deputy head of the Department of Commerce of Hainan Province, speaks at the press conference on Aug 4. [Photo/hainan.gov.cn]
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