Incentive policy for industry transformation and upgrading in Xiamen

The application for the 2019 special fund of industry transformation and upgrading (service-oriented manufacturing, industrial design, integration of informatization and industrialization) in Xiamen, Fujian province, opened on July 16.

The applicant must be a legal person enterprise that pays taxes in Xiamen and has been registered in Xiamen for more than 2 years (before Jan 1, 2017). The local retained portion of the actual tax paid last year must be no less than 50,000 yuan ($7,271).

In order to support the development of service-oriented manufacturing, Xiamen gives awards of 200,000 yuan, 400,000 yuan and 600,000 yuan to related enterprises whose annual service revenue exceeds 10 million yuan, 30 million yuan and 50 million yuan respectively for the first time and accounts for more than 15 percent of the main business income for the first time. For those who have been recognized as provincial-level and national-level demonstration enterprises (platforms and projects), subsidies of 500,000 yuan and 1 million yuan shall be given respectively.

Xiamen encourages qualified manufacturing enterprises to set up R&D and design enterprises by separating industrial design centers or design institutes. For the separated and newly established R&D and design enterprise with an independent legal person and total assets exceeding 5 million yuan, a start-up capital subsidy of 500,000 yuan shall be given. A newly established enterprise whose main annual business income reaches 5 million yuan for the first time and serves at least 5 manufacturing enterprises shall be rewarded with 500,000 yuan.

For those recognized as municipal, provincial and national industrial design centers, awards of 200,000 yuan, 500,000 yuan and 2 million yuan will be given respectively.

Xiamen also encourages domestic and foreign industrial design enterprises to settle in the city, and gives subsidies of 30 percent of the registered capital, with a ceiling of 1 million yuan.