Dongguan, a manufacturing city in Guangdong province known as the “world factory,” is planning to attract a cluster of corporate headquarters with up to 100 million yuan (US$15.43 million) of one-time rewards, The Paper reported.

According to the plan, Dongguan will provide a one-time reward ranging from two to 100 million yuan for those enterprises that have newly relocated their headquarters to the city, based on the scale of the business and their contributions.

In addition, the government will also offer supports including construction land, office space, talent pool and financing to boost the development of the so-called “Headquarters Economy.”

The municipal government has set a goal to attract more than 100 headquarters and nurture a group of top 100 firms in the province as well as top 500 companies in the country.