Tongzhou district in Nantong, East China's Jiangsu province has updated its policies to encourage firms to go public. The total direct reward for successfully listed enterprises can reach 7 million yuan ($1.09 million), as the district's incentives can overlap with those granted by the municipal government.

The Several Policies and Regulations on Accelerating the Listing of Enterprises released last month promote a more optimized listing service process, highlight policy support more prominently, and make sure that rewards are distributed reasonably at different stages of listing.

All relevant departments are required to establish "green channels" for accelerating the listing process and special issues can be discussed specifically.

The phased incentive policy stipulates that rewards will be issued at different points, such as after the firm completes share reform, guidance and acceptance, application acceptance, initial financing or any other procedure.

Specifically, enterprises to be listed on the Shanghai and Shenzhen Stock Exchanges will be rewarded 500,000 yuan after completing share reform, 500,000 yuan after passing the provincial securities regulatory department's guidance and acceptance, and 3 million yuan (municipal reward included) after submitting listing application materials to the stock exchange or China Securities Regulatory Commission. Up to 3 million yuan (municipal reward included) will be granted to celebrate successful listings.

Those to be listed on the National Equities Exchange and Quotations (NEEQ), also known as the New Third Board, will receive a reward of 500,000 yuan after completing the share reform and 300,000 yuan after submitting listing application materials to the National Stock Exchange Center. Those listed on the NEEQ Base Tier will be rewarded 1 million yuan (municipal rewards included); those entering the Innovation Tier will be granted 200,000 yuan; and those enrolled into the Select Tier will receive 4.5 million yuan in reward (municipal reward included).