Rapid-recovery fund in place for Jinwan enterprises

The Jinwan District government will allocate 200 million yuan ($30.3 million) to help certain industrial enterprises resume production in the wake of two recent typhoons, according to a measure passed on Aug 28.

The measure provides for capital resources, target enterprises, fiscal policies, burden reduction, taxation, and financial support as well as priorities given to guarantee production factors and administrative approval.            

Only those that are registered and pay taxes in Sanzao and Hongqi towns can apply at the Science, Technology, Industry, Trade & Information Technology Bureau of Jinwan District. Applications can also be made by businesses such as hotels in the tertiary sector.

The measure further stipulates that damaged factories and equipment will be endowed with to 10 percent of fixed-assets investment, with a maximum of 5 million yuan ($756,600) each. The funds will be released on the condition that affected factories observe national territorial planning requirements and come into operation or resume production by the year's end. Repairs and renewal of machinery equipment need to be completed by March. Otherwise, they will be ineligible for the fund.  

Typhoon-stricken business in Jinwan District [Photo by Zhang Zhou / Zhuhai Daily]

A maximum subsidy of 1 million yuan ($151,300) each will be granted to enterprises with impaired support facilities such as power supply, telecommunications, heating, cooling, and sewage treatment. The amount will be 50 percent of fixed-asset investment under the prerequisite that repairs are completed by Dec 31.