Preferential policies for industry in Quzhou

1. For enterprises that have successfully finished reorganization by mergers and acquisitions (M&A), the transferor will be rewarded with a local financial contribution formed by auditing adjustment and increasing the profits of previous years; for enterprises participating in M&A and reorganization by transferring equity, the local financial contribution formed by the transfer of equity by enterprises will be given to the transferor; 62.5 percent of local financial contribution formed by the transfer of individual shareholders will be given to the individual; for enterprises that bear the assets of liquidation or acquire the idle assets of another enterprise, and those enterprises that can use the assets in production, shall be rewarded with 60 percent of the local financial contribution formed by the land added value of the original transferor in the process of transfer. 

2. For enterprises that have successfully finished reorganization by M&A, the portion that exceeds their contribution to local finance in the previous year will be rewarded to them for three consecutive years from the year of M&A and reorganization on the basis of the share of M&A assets in the final assets of enterprises.

3. Industrial enterprises will be rewarded according to their performances. When the main business income of an enterprise reaches 20 billion yuan ($2.88 billion), 15 billion yuan, 10 billion yuan, 5 billion yuan, 2 billion yuan, 1 billion yuan and 500 million yuan for the first time, and the local financial revenue paid in that year reaches 300 million yuan, 250 million yuan, 200 million yuan, 100 million yuan, 40 million yuan, 20 million yuan and 10 million yuan, their legal representative will be given a one-time reward of 5 million yuan, 4 million yuan, 3 million yuan, 1 million yuan, 600,000 yuan, 400,000 yuan and 200,000 yuan, respectively. If the winning enterprise achieves the next level, the bonus difference between the reward it has obtained and the reward for the next level will be reissued once and for all.

4. Expanding effective industrial investment and promoting technological renovation of enterprises. For those existing enterprises implementing technological renovation and investing no less than 2 million yuan in additional equipment and technology, their general projects will be granted a one-time subsidy on the basis of 5 percent of the actual investment on additional equipment and technology. The technological renovation projects of those enterprises that were included among the key players in the segment industries of Quzhou’s “Double Eight” strategy (a strategy focusing on giving full play to the city’s advantages in eight fields and making progress in eight aspects ) will receive a one-time subsidy of 6 percent of the actual investment in additional equipment and technology. The technological renovation projects of those platform-based enterprises or those projects of leading enterprises included in the city’s "Double Ten" Plan will receive a one-time subsidy worth 8 percent of the actual investment in additional equipment and technology.

The proportion of subsidies will increase by 1 percentage point for those listed in the automation demonstration project pool, or in the "special intelligent manufacturing project" list of the State or province, or in the technical renovation projects implemented by enterprises listed in Category A. For technological renovation projects involving the industrialization of invention patents, the proportion of subsidies will rise by 2 percentage points. New investment projects of existing enterprises after M&A in urban areas, as well as newly established investment projects, shall be subsidized in accordance with the standards of the technological renovation projects. 

The maximum annual allowance for a single enterprise shall not exceed 5 million yuan. The highest proportion of subsidies for purchasing industrial robots shall not exceed 15 percent, and the highest proportion of subsidies for other projects shall not exceed 10 percent. For major strategic emerging industry projects and platform-based enterprises, the principle of "special case can be discussed independently” can be adopted.

For more information, please refer to https://www.qz.gov.cn/art/2015/11/20/art_1526949_20835402.html;  https://www.qz.gov.cn/art/2015/11/20/art_1526949_20835400.html;  https://www.qz.gov.cn/art/2016/11/29/art_1526949_20835448.html