Funding, without mixing the mechanisms¶

53 researched routes across citywide programs and all 16 districts. We distinguish equity-free support from repayable debt, credits and investment. No item is labelled open merely because its policy or web page exists.

Read the funding guide first

All researched funding routes at a glance¶

Shanghai Science and Technology Innovation Vouchers (上海市科技创新券 · Reimbursement · Citywide / global · No equity) — Up to 50% of eligible orders; annual cap RMB 300,000 per company or RMB 100,000 per team. Eligibility: Qualifying technology SMEs and innovation teams using approved platform services. Service-provider qualification is separate from applicant eligibility. Timing: Policy: 1 Sep 2025 to 31 Aug 2030. [Status: Policy in force; confirm service and order]
Technology SME Innovation Fund (科技型中小企业技术创新资金 · Grant · Citywide / global · No equity) — Award and matching support depend on the annual call. Eligibility: Shanghai non-listed technology companies: prior-year revenue up to RMB 200 million; R&D at least RMB 500,000 and 5% of revenue; no more than 500 employees; R&D staff at least 10%. The current call may add conditions. Timing: Policy: 9 Dec 2025 to 8 Dec 2030. [Status: Policy in force; call not confirmed open]
Pudong AI model and agent application support, 2026 (浦东2026年大模型等AI新技术应用项目 · Reimbursement · Pudong · No equity) — Support rate and amount subject to applicable implementing rules. Eligibility: Qualifying Pudong-benefiting projects with eligible 2025 model or agent expenses. Required filing or registration conditions apply; previously publicly funded projects cannot duplicate this support. Timing: Closed 31 Aug 2026, 16:00 China Standard Time. Tel: +86 21 68811090. [Status: Closed]
Minhang research commercialization support (闵行科技成果转化支持 · Grant · Minhang · No equity) — New conversion enterprise: up to RMB 500,000/year; RMB 1.5m over three years; up to 50% of investment. Eligibility: Qualifying research-result conversion in Minhang. Registration, eligible expenditure, audit and annual notice conditions must be confirmed. Timing: Policy: 1 Sep 2025 to 31 Aug 2030. [Status: Policy in force; call not confirmed open]
Minhang core technology R&D projects (闵行关键核心技术攻关 · Grant · Minhang · No equity) — General: up to RMB 3m at up to 30% of R&D; major: up to RMB 10m at up to 50%. Eligibility: Project classification and investment thresholds apply. This is selective R&D support, not a general startup incorporation bonus. Timing: Policy through 31 Aug 2030. [Status: Policy in force; call not confirmed open]
Xuhui embodied AI development support (徐汇具身智能产业支持 · Grant · Xuhui · No equity) — Evaluated entity support ceilings: RMB 10m one-off and RMB 20m annual development support. Eligibility: Qualifying entities in robot models, embodied algorithms, robot data and operating systems. These headline maxima are not an ordinary startup award and require comprehensive evaluation. Timing: Confirm applicable implementing notice. [Status: Published policy; implementing intake to confirm]
STEFG Young Eagle Plan (天使基金雏鹰计划 · Loan · Citywide / global · No equity; repayable) — Up to RMB 500,000; interest-free; 3 years; equal principal over 36 months. Eligibility: Chinese nationals aged at most 40 who meet the student/graduate rules; founder is the largest natural-person shareholder and legal representative; full-time startup; Shanghai company registered at most 3 years. Timing: Confirm branch intake and review schedule. Tel: +86 21 55231818. [Status: Program published; eligibility review]
STEFG Eagle Plan (天使基金雄鹰计划 · Equity investment · Citywide / global · Temporary equity; original-price exit) — Up to RMB 800,000 for 3 years; no dividend participation; exit at original price. Eligibility: Eligible technology entrepreneurs meeting the foundation rules; founder cash funding must exceed the foundation contribution. Review nominee ownership, exit obligation and documents. Timing: Confirm branch intake and review schedule. Tel: +86 21 55231818. [Status: Program published; eligibility review]
Shanghai guaranteed startup loans (上海创业担保贷款 · Loan · Citywide / global · No equity; repayable) — Loan ceiling and interest support depend on applicant class and current rules. Eligibility: Individual, pre-startup and enterprise routes have different residence, education, registration and employment conditions. Bank underwriting still applies; an interest subsidy does not remove principal repayment. Timing: Confirm current HRSS service rules. [Status: Published service; current terms to confirm]
R&D super-deduction (研发费用加计扣除 · Tax relief · Citywide / global · No equity) — Eligible expensed R&D: additional 100% deduction; eligible capitalized R&D: 200% amortization basis. Eligibility: Qualifying enterprise R&D costs with the required accounting and evidence. A tax deduction reduces taxable income; it is not cash equal to the expense or deduction. Timing: Annual tax filing and applicable rules. [Status: Published tax guidance; applicability review]
High and New Technology Enterprise tax rate (高新技术企业所得税优惠 · Tax relief · Citywide / global · No equity) — 15% corporate income tax for qualifying recognized enterprises. Eligibility: Recognition and continued compliance are required. Review IP, personnel, R&D, revenue mix and annual reporting; not all AI companies qualify. Timing: Recognition batches and annual filing. [Status: Published tax guidance; recognition required]
Startup in Shanghai International Competition, 2026 (2026创在上海国际创新创业大赛 · Competition · Citywide / global · Award / investment terms vary) — Awards and connected investment depend on track; not guaranteed. Eligibility: Domestic and overseas teams and companies under the official track rules. Competition admission, innovation funding and investor interest are separate outcomes. Timing: Check the specific 2026 track; not labelled open. [Status: 2026 call published; deadline check required]
Haiju Talent Global Innovation Competition (海聚英才全球创新创业大赛 · Competition · Citywide / global · Award / investment terms vary) — Track-specific awards, introductions and services. Eligibility: Apply through the official competition portal and qualifying division. District selection and final competition do not establish automatic funding or immigration status. Timing: Confirm track and division dates. [Status: 2026 competition published; track intake to confirm]
Magnolia Talent Plan, Pujiang Project 2026 (2026白玉兰人才计划浦江项目 · Grant · Citywide / global · No equity) — Category-specific support; consult the actual 2026 category. Eligibility: The July 2026 guide supports eligible overseas returnees through distinct categories. Scientific research and entrepreneurial routes must not be confused; host endorsement may be required. Timing: Confirm category deadline and host review. [Status: 2026 call published; not confirmed open]
NVIDIA Inception (英伟达初创加速计划 · In-kind services · Citywide / global · No equity) — Free membership; conditional ecosystem benefits, not a cash grant. Eligibility: Qualifying AI startups; check incorporation, developer, age and regional conditions. Product availability and partner credits are separately governed. Timing: Online application; regional eligibility review. [Status: Program published; eligibility review]
AWS China Activate credits (亚马逊云科技中国区Activate积分 · Cloud credits · Citywide / global · No equity stated in offer; verify terms) — Package-specific promotional credits for eligible China services. Eligibility: China-established unlisted startup and qualifying new-customer / participating partner relationship. Do not substitute global AWS account rules or credit ceilings. Timing: Confirm current package and expiration. [Status: Regional eligibility to confirm]
Microsoft startup cloud resources (微软创业云资源 · Cloud credits · Citywide / global · Verify current agreement) — Offer-specific credits and technical resources. Eligibility: Apply online and verify company, region and account eligibility. Global benefits are not represented as China-region entitlements. Timing: Confirm current application and credit validity. [Status: Regional eligibility to confirm]
Pudong AI Seed Fund (浦东人工智能种子基金 · Equity investment · Pudong · Negotiated equity) — Fund target RMB 2bn; first tranche RMB 500m; individual cheque not established. Eligibility: Seed-stage AI projects fitting the manager’s mandate. The public launch does not establish a universal application form, valuation or shareholding percentage. Timing: Manager-led sourcing and due diligence. [Status: Fund announced; deal intake to confirm]
Leading-industry and specialist AI funds (先导产业与人工智能专项基金 · Equity investment · Citywide / global · Negotiated equity) — Vehicle-specific investment; fund size is not startup funding. Eligibility: AI, chip, healthcare and other mandate-compatible companies. Identify the direct-investment or subfund manager and review stage, domicile, return and ownership terms. Timing: Investment committee process; no guaranteed award. [Status: Published investment platform; deal review]
Zhangjiang AI Town compute, model and corpus support (张江AI创新小镇算力券、模型券、语料券 · Reimbursement · Pudong · No equity) — Up to 100% of approved actual cost, capped at RMB 1m in each category; at most one year. Eligibility: AI companies registered and operating inside the specified town boundary, established or moved there no earlier than 1 Jan 2025. Expenses must be for qualifying model R&D or deployment; review the current quarterly guide. Timing: Quarterly claims; confirm the current batch. Tel: +86 21 58811024 ext. 5091. [Status: Quarterly scheme published; current intake to confirm]
Shanghai AI compute, Token and corpus vouchers, 2026 (2026模塑申城算力券、模型券、语料券 · Reimbursement · Citywide / global · No equity) — Award depends on applicable category and assessment. Eligibility: Qualifying Shanghai AI model or agent developers and users purchasing eligible non-related-party services. Projects already receiving other municipal fiscal subsidy are excluded. Timing: First batch closed 27 May 2026, 16:00 China Standard Time; notice plans quarterly follow-ups. Tel: +86 21 23119377. [Status: First 2026 batch closed; later batches to verify]
Shanghai IP-backed finance product directory (上海知识产权金融产品清单 · Loan / insurance · Citywide / global · No equity; product obligations apply) — Bank and product-specific loan, insurance or trust terms. Eligibility: The 2026 IP bureau directory supplies borrower criteria, collateral, rates, repayment, application steps and contacts by product. IP ownership and bank assessment matter. Timing: Product-specific. [Status: 2026 directory published; lender review]
First equipment, first tape-out, materials and software routes (首台套、首轮流片、首批次材料、首版次软件路径 · Grant / market access · Citywide / global · No equity for qualifying public support) — Program-specific; no common award ceiling established. Eligibility: Shanghai policy identifies these routes for qualifying specialized SMEs and new products. Recognition, insurance compensation, procurement and R&D support are separate mechanisms; obtain the current call. Timing: Track-specific notices. [Status: Published route; current call to confirm]
Shanghai early-stage startup social-insurance subsidy (上海初创期创业组织社会保险补贴 · Reimbursement · Citywide / global · No equity) — 50% of specified employer contributions at the minimum contribution base; up to 8 people per month, within 36 months of registration. Eligibility: Qualifying new startup organizations led by eligible local workers or specified residence/returnee categories, after employing workers for 6 months. Support is calculated against eligible local workers; avoid duplicate employment subsidies for the same person. Timing: Policy through 31 Dec 2027; confirm district procedure. [Status: Policy in force; call not confirmed open]
Shanghai pre-registration incubation rent subsidy (上海创业孵化期场地房租补贴 · Reimbursement · Citywide / global · No equity) — Actual workstation cost before registration; up to RMB 10,000 and at most 6 months. Eligibility: Teams entering a municipal demonstration incubation base and establishing a qualifying startup organization during incubation. Only the period from admission to registration is covered. Ask the base and district employment service for the current evidence and filing procedure. Timing: Policy through 31 Dec 2027; confirm district procedure. [Status: Policy in force; call not confirmed open]
Shanghai first-startup one-off subsidy (上海首次创业一次性补贴 · Grant · Citywide / global · No equity) — One-off RMB 8,000 for qualifying founders. Eligibility: Shanghai-hukou graduates within 2 years of graduation or recognized local people with employment difficulties. First qualifying startup must have operated for 1 year and paid employee social insurance for at least one person for 6 months. This is not a universal incorporation award. Timing: Policy through 31 Dec 2027; confirm district procedure. [Status: Policy in force; call not confirmed open]
Changning AI Industry Projects, 2026 (2026长宁人工智能产业项目 · Grant · Changning · No equity) — Project-specific support after assessment; no common ceiling established. Eligibility: Lawfully established Changning legal or non-legal-person organizations with normal operations and good credit. The call covers multiple AI, software, technology-service and market-development directions. Timing: Closed 30 June 2026. [Status: Closed]
Changning Technology Star Teams, 2026 (2026长宁科技之星团队 · Grant · Changning · No equity) — Funding for assessed and recognized teams under the district talent fund plan. Eligibility: Eligible teams in AI, industrial internet and biomedicine at organizations established or operating lawfully in Changning. Required evidence includes research outcomes, employment contracts and commitments. Timing: Closed 26 June 2026. Tel: +86 21 22050986. [Status: Closed]
Putuo Technology Enterprise Seed Plan, second 2026 batch (2026普陀科创企业种子计划第二批 · Grant · Putuo · No equity) — RMB 300,000 per selected company; 50% initially, remainder after one-year development review. Eligibility: Lawfully established technology companies with good credit. Online application is accompanied by stamped paper materials through the responsible investment promotion center; the science commission evaluates the project. Timing: Closed 31 August 2026. Tel: +86 21 52564588 ext. 8627. [Status: Closed]
Putuo intelligent software industry support, 2026 (2026普陀智能软件产业专项 · Grant / reimbursement · Putuo · No equity) — Direction-specific R&D, compute, first-product matching and related support. Eligibility: Good-credit legal or non-legal-person organizations. The call distinguishes R&D collaboration, compute use for models and agents, recognized technical breakthroughs and other directions; approval and eligible periods differ. Timing: Closed 26 June 2026. Tel: +86 21 52564588 ext. 7166. [Status: Closed]
Putuo R&D Platform Projects, 2026 (2026普陀科技研发平台项目 · Grant · Putuo · No equity) — Up to RMB 2 million; first payment at most 50%, balance subject to acceptance. Eligibility: Lawfully established, good-credit legal or non-legal-person organizations building qualifying R&D platforms. Online registration requires district review; credit commitments and prescribed materials are required. Timing: Confirm the deadline in the September 2026 notice. Tel: +86 21 52564588 ext. 8628. [Status: 2026 call published; not confirmed open]
Songjiang technology-enterprise innovation and matching support (松江科技企业创新与配套支持 · Grant · Songjiang · No equity) — District innovation project up to RMB 100,000; approved municipal innovation projects matched 1:1 under the policy. Eligibility: Qualifying technology enterprises under the 2026-2027 measures and implementing rules. Different recognition, commercialization and voucher provisions must be checked separately. Timing: Policy: 1 January 2026 to 31 December 2027; confirm the applicable call. [Status: Policy in force; call not confirmed open]
Qingpu digital economy compute reimbursement, September 2026 costs (青浦2026年9月算力费用补贴 · Reimbursement · Qingpu · No equity) — Amount under the applicable digital-economy rules; reviewed against eligible actual cost. Eligibility: Eligible R&D rental of non-related-party intelligent compute; storage, networking and security are excluded. The provider must hold the specified IDC/ISP licence. Other fiscal support for the same project and year is generally excluded. Timing: Closed 23 October 2026, 17:00 China Standard Time. [Status: Closed]
Fengxian R&D expenditure increase reimbursement, 2026 (2026奉贤研发费用增长补贴 · Reimbursement · Fengxian · No equity) — 30% of the qualifying annual R&D net increase, capped at RMB 1 million. Eligibility: Valid recognized high-tech enterprise or 2025 registered technology SME; 2024 and 2025 tax finalization and R&D super-deduction schedules are required. Submit online and route the paper pack through the recommending unit. Timing: Online closed 17 June 2026, 17:00; paper closed 30 June 2026, 17:00 China Standard Time. Tel: +86 21 33610530. [Status: Closed]
Fengxian SME Technology Innovation Key Projects, 2026 (2026奉贤科技型中小企业技术创新资金重点项目 · Grant · Fengxian · No equity) — Up to RMB 250,000; generally two installments, final settlement after acceptance. Eligibility: The 2026 key-project call requires prior-year revenue RMB 30m-200m, R&D at least RMB 1.2m and 4% of revenue, at most 500 employees and at least 10% R&D staff, plus additional conditions. Timing: Online closed 21 June 2026; paper closed 30 June 2026. Tel: +86 21 37188010. [Status: Closed]
Chongming early-stage enterprise development subsidy, 2026 (2026崇明初创助力发展补贴 · Grant · Chongming · No equity) — Up to RMB 100,000 for an assessed excellent qualifying early-stage project. Eligibility: Startup organizations incubated in a carrier or closely supported by a township park, with qualifying emerging-industry or niche innovation and growth potential. The July policy is distinct from the expired 2024 science measures. Timing: Policy: 1 August to 31 December 2026, with qualifying cases since 1 January; confirm intake. [Status: Policy in force; call not confirmed open]
Hongkou international and overseas young talent support, first 2026 batch (2026虹口国际顶尖及海外优秀青年人才扶持第一批 · Grant · Hongkou · No equity) — Recognized top talent and core team: up to RMB 1m; eligible overseas young talent: RMB 50,000 per person. Eligibility: Strict category-specific talent recognition and Hongkou employment rules apply. Email pre-review is followed by paper submission at the district talent service center; this is not a grant for every foreign founder. Timing: Closed 31 March 2026. Tel: +86 21 65123028. [Status: Closed]
Jiading Future Industry Fund (嘉定未来产业基金 · Equity investment · Jiading · Negotiated equity) — Announced fund scale RMB 800 million; individual investment not established. Eligibility: Projects within the fund manager’s current future-industry mandate. Confirm the responsible manager, direct or subfund route, stage and domicile requirements. Fund scale is not a per-company award. Timing: Manager-led sourcing; current deal intake to confirm. [Status: Fund announced; deal intake to confirm]
Baoshan pre-investment / later equity project call (宝山先投后股项目征集 · Convertible support · Baoshan · Potential equity conversion; review contract) — Amount and conversion terms require the actual project guide and agreement. Eligibility: The district January 2026 policy calendar identifies a science-commission call for pre-investment / later equity projects. Verify the recipient, milestone and conversion conditions rather than labelling this an unrestricted equity-free grant. Timing: Closed 10 February 2026. Tel: +86 21 56160454. [Status: Closed]
Huangpu financing and credit product directory (黄浦融资信用产品目录 · Loan · Huangpu · No equity; repayable) — Product-specific bank credit, startup guarantee and IP-backed finance. Eligibility: Select the actual bank product on the official district platform. Credit eligibility, guarantee, rates, fees, collateral and repayment depend on the lender and company; the directory is not an approval. Timing: Product-specific; confirm current lender terms. [Status: Published directory; lender review]
Yangpu financing and credit service platform (杨浦融资信用服务平台 · Loan · Yangpu · No equity; repayable) — Product-specific technology credit and IP finance; no universal ceiling. Eligibility: Use the district platform to identify an actual lender and product. Technology performance-guarantee lending, IP-backed products and guarantees have different duties and underwriting conditions. Timing: Product-specific; confirm current lender terms. [Status: Published directory; lender review]
Jing’an Service Industry Guidance Fund and AI Demonstration Support, 2026 (2026静安服务业发展引导资金与人工智能示范支持 · Grant · Jing’an · No equity) — Project-specific support under the district service-industry guidance fund rules, matched to qualifying project investment. Eligibility: Lawfully registered, tax-paying legal-person organizations in Jing’an with sound credit, advancing modern services, enterprise AI, data services or digital commerce under the 2026 batch rules and 2026-2028 AI demonstration plan. Timing: Second 2026 batch published May 2026; confirm current sub-district recommending window. [Status: 2026 call published; deadline check required]
Zhangjiang Jinshan Park low-altitude UAV and new materials support (张江金山园低空无人机与新材料创新支持 · Grant / reimbursement · Jinshan · No equity) — Policy-specific R&D, carrier incubation, testing-service and industrialization support under the 2025-2026 park action plan. Eligibility: Qualifying enterprises and innovation carriers in Zhangjiang Jinshan Park working on low-altitude UAV systems, new chemical or electronic materials, biomanufacturing and intelligent equipment. Timing: Policy: 2025 to 2026 action plan; confirm current implementing batch. [Status: Policy in force; call not confirmed open]
Yangpu Dream Start Angel Co-investment Fund (杨浦梦想起航天使引投基金 · Equity investment · Yangpu · Negotiated equity) — District state-backed early-stage equity co-investment; individual cheque subject to investment committee review. Eligibility: Early-stage hard-tech, quantum computing, brain-inspired AI and university spinout enterprises settling or operating in Yangpu alongside qualifying lead investors. Timing: Manager-led sourcing and due diligence. [Status: Published investment platform; deal review]
Songjiang Data Elements Special Fund, second 2026 batch (2026松江区数据要素专项资金第二批 · Grant / reimbursement · Songjiang · No equity) — Project-specific support under the district data-elements special fund rules. Eligibility: Lawfully operating Songjiang organizations developing high-quality datasets, corpus governance, data-product listings or AI data-space applications. Timing: Second 2026 batch notice issued August 2026; confirm current acceptance status. [Status: 2026 call published; deadline check required]
Qingpu Enterprise Intelligent Transformation Support Fund, 2026 (2026青浦区企业智能化改造扶持资金 · Grant / reimbursement · Qingpu · No equity) — Proportion of verified intelligent equipment, industrial software and digital-workshop investment. Eligibility: Qualifying Qingpu manufacturing and technology enterprises implementing intelligent factories, industrial AI inspection or digital supply-chain upgrades. Timing: 2026 notice issued 31 July 2026; confirm current batch window. [Status: 2026 call published; deadline check required]
Fengxian South Shanghai Sci-Tech Center “Open Competition” R&D Projects, 2026 (2026奉贤“南上海科创中心”揭榜挂帅合作项目 · Grant · Fengxian · No equity) — Milestone-based R&D grant matched to technical challenge contract value. Eligibility: Enterprises, universities and research institutes jointly tackling published core technical bottlenecks in robotics, biomedicine, new materials or green chemistry in Fengxian. Timing: 2026 guide published May 2026; confirm current project batch. [Status: 2026 call published; deadline check required]
Chongming Entrepreneurship and Innovation Competition & Policy Support, 2026 (2026崇明区创业创新大赛与联动扶持 · Competition · Chongming · Award / investment terms vary) — Competition awards plus priority routing to district startup subsidies, carrier incubation and guaranteed loans. Eligibility: Startup teams and early-stage enterprises aligned with Chongming ecological tech, smart agriculture, marine equipment, green energy and digital economy. Timing: Implementation plan issued 20 August 2026; check track schedule. [Status: 2026 competition published; track intake to confirm]
Lin-gang Zero Cube conditional rent support (临港零界魔方有条件办公租金支持 · In-kind services · Pudong · No equity stated in offer; verify terms) — Qualifying offices: 3 years rent-free, then 2 years at half rent; separate housing and service terms. Eligibility: Selected OPC and small-team projects admitted by the community. The August 2026 operator report is not a tenancy offer for every applicant. Confirm current selection, eligible premises, deposits, service charges and exit terms in writing. Timing: Confirm current community admission and tenancy terms. [Status: Published service; current terms to confirm]
Xuhui Qingmiao early AI investment route (徐汇青苗基金早期AI投资渠道 · Equity investment · Xuhui · Negotiated equity) — Manager-reviewed early-stage investment; no universal cheque or equity percentage verified. Eligibility: Youth-led early AI projects matching the fund mandate. The August 2026 camp notice documents investment activity and organizers, not an always-open application or guaranteed grant. Request the responsible manager, screening pack, local-operation conditions and term sheet. Timing: Manager-led sourcing and due diligence. [Status: Published investment platform; deal review]
Lin-gang OPC AI-tool service cost support (临港OPC人工智能工具服务费用支持 · Reimbursement · Pudong · No equity for qualifying public support) — Up to 80% of qualifying AI-tool service costs; applicable caps and conditions require the implementing notice. Eligibility: Eligible OPCs purchasing approved technical services under the March 2026 measures. Foreign-founded teams should confirm the required local entity, community recognition, eligible invoices and supplier rules. Foreign ownership or a foreign parent alone does not establish grant eligibility; verify the written current procedure. Timing: Confirm current implementing notice and intake. [Status: Published policy; implementing intake to confirm]
Lin-gang OPC open-source AI-tool development reward (临港OPC开源AI工具开发奖励 · Grant · Pudong · No equity for qualifying public support) — Annual reward up to RMB 1 million for qualifying AI-tool development and listing on major international open-source platforms. Eligibility: A distinct developer reward under the March 2026 OPC measures, rather than reimbursement for buying AI services. Confirm qualifying deployment, assessment and local-operation requirements. Foreign teams must obtain a written eligibility decision for the applicant entity; an overseas repository listing alone is insufficient. Timing: Confirm current implementing notice and intake. [Status: Published policy; implementing intake to confirm]
Pudong foreign-funded R&D and open-innovation support (浦东外资研发与开放创新支持 · Grant / market access · Pudong · No equity for qualifying public support) — Conditional R&D-center support under the applicable recognition and funding rules; no universal cash ceiling established. Eligibility: The 2025 measures explicitly support qualifying foreign-funded R&D centers and foreign-invested open innovation centers (GOI). Relevant to AI and hardware companies considering a Pudong or Waigaoqiao research presence. A foreign parent alone is insufficient: confirm local registration, center recognition, project location, sector restrictions and the actual funding call with the Pudong commerce authority. Timing: Policy through 31 December 2027; confirm the implementing call. [Status: Published policy; implementing intake to confirm]