Guiyang encourages industrial transformation and upgrading

According to the General Office of the Guiyang People's Government, Guiyang has recently launched various policies to encourage industrial transformation and upgrading.

Guiyang will set up a series of funds to support companies in 19 different areas until Dec 31, 2022. Companies conforming to transformation policies will be rewarded with 500,000 yuan ($73,233), 300,000 yuan or 100,000 yuan depending on their scale.

The Guiyang Industry and Information Technology Commission has set up a development guidance foundation with an initial fund of 2 billion yuan. The city government and district government will invest an additional 200 million yuan and 14.3 million yuan, respectively, every year.

Up to 70 percent of the foundation will be used as equity investment directly for companies which adhere to transformation policies and up to 30 percent of the foundation will participate in sub-funds to invest in stock rights of other companies.

Companies with their first nationally or provincially recognized of technology center, design center, experimental or demonstration unit will receive a one-time reward of 5 million yuan, 3 million yuan or 1 million yuan.

Furthermore, companies with a sales revenue of over 200 million yuan, 500 million yuan or 1 billion yuan, will receive a one-time reward of 100,000 yuan, 200,000 yuan and 500,000 yuan, respectively.

Companies listed on domestic main-board or abroad market, domestic small and medium-size market and second-board market, and new over the counter market will be awarded with 10 million yuan, 5 million yuan and 1.5 million yuan, respectively.