New motivations given to build Zhuhai real economy

Incentives to grow the local real economy have been strengthened by the city to include up to 100 million yuan ($14.6 million) for any single project.

Methods of Strengthening Investment Attraction to Promote Development of Real Economy in Zhuhai (Revised Edition) are now in force. They were upgraded from the tentative measures introduced in 2017 that rewarded more than 80 companies within one year.

While benefiting more-advanced real-economy projects, the new measures cover not only high-end equipment manufacturing, new-generation information technology, and intelligent smart home appliances, but also biomedicine, energy conservation, environmental protection, new energy, and new materials.

Applicants should be in Zhuhai's priority industries and gain eligibility between May 1, 2018 and Dec 31, 2020.

Industrial cluster [Photo courtesy Zhuhai Daily]

For capital replenishment, a subsidy of up to 3 million yuan ($437,520) will be issued for every add-on of $10 million or 100+ million yuan to a project entity's registered capital.

In addition, each new project will receive 2 million yuan for every $10 million or 100 million yuan in paid-in registered capital of its controlling entity. The maximum award has been raised from 50 million yuan ($7.3 million) to 100 million yuan. 

Customized payments and other various forms of support will be tailored upon government approval for newly introduced key projects. These must be at a world-advanced level, corporate champions in the industry at home and abroad, emerging industrial projects that fill in market niches in Zhuhai and present huge developmental potential, and grand projects with investment of more than 1 billion yuan.