Zhuhai to spur high-quality development of real economy

Zhuhai will increase support to industrial investment, technical transformation, and innovation under the Management & Implementation Rules for the Specialized Fund of Zhuhai to Promote High-quality Development of Real Economy.

The document, which was recently issued by the Zhuhai Industry & Information Technology Bureau, will come into effect on Aug 24 and expire on Dec 31, 2020.

It stipulates that projects with an industrial investment of more than 50 million yuan ($7 million) that is included in the national statistical system will be rewarded. Those with an industrial investment of more than 1 billion yuan ($142 million) will be given 1 million yuan ($141,995).

Projects that spend 5 million yuan ($709,975) to 50 million yuan on technical transformation will be rewarded 100,000 yuan ($14,200). Those spending more than 50 million yuan will receive 200,000 yuan ($28,399).

Major industrial or technical transformation projects with an investment of over 3 billion yuan ($426 million) will be given 20 percent of their equipment expenditure, up to a maximum of 50 million yuan for each enterprise. 

Zhuhai enterprises are encouraged to undergo technical transformation. [Photo courtesy southcn.com]

National Innovation Centers of the manufacturing industry will receive a reward of 10 million yuan ($1.42 million) and Provincial Innovation Centers of the manufacturing industry will receive 5 million yuan. Up to 10 million yuan will be given to National Enterprise Technical Centers in the industry & information technology sector.

Digitalized workshops, smart factories, and smart manufacturing public service demonstration platforms will be given 10 percent, 12 percent, and 15 percent of their expenditure respectively after going through smart transformation. The reward amount will be up to 1 million yuan.

Enterprises will be rewarded up to 10 percent of their equipment purchase fee, if they go through smart transformation following the service agencies' advice. Each service agency will receive 50,000 yuan ($7,100) every time it prompts an enterprise to spend more than 1 million yuan on purchasing new equipment for smart transformation.

Enterprises that go through technical transformation with investment that is included in the national statistical system can borrow a loan of up to 70 percent of its total investment. They are able to enjoy an interest subsidy for up to two years, as well as those going through technical transformation via a finance lease.