Guilin banks on subsidies for industrial revitalization

Guilin has recently issued 18 measures to spur industrial development, according to the Guilin Industry and Information Technology Bureau.

Scaled industrial enterprises with prime operating revenues of over 500 million yuan ($74.8 million), 1 billion yuan, 3 billion yuan, 5 billion yuan, and 10 billion yuan will be granted one–time subsidies of 200,000 yuan, 500,000 yuan, 1 million, 2 million, and 5 million yuan, respectively.

Industrial parks that spend more than 50 million yuan acquiring industrial land and invest more than 20 million yuan in infrastructure will be given 2 million yuan in subsidies. The construction and leasing of workshops will also warrant financial support.

Major industrial projects coming from outside the city and valued at over 100 million yuan are eligible for subsidies equal to 2 percent of the project's fixed-asset investment. No more than 10 million yuan will be given to a single project. 

Other measures include financial incentives for technical transformation and innovation among local industrial enterprises.