10 policies to boost WEDZ's software information

Software is widely used in automobiles nowadays. [Photo provided to en.whkfq.gov.cn]

On Dec 4, the Wuhan Economic & Technological Development Zone (WEDZ) released 10 policies to accelerate the development of the software information industry.

In recent years, WEDZ has capitalized on the software-defined automobile revolution by establishing the Wuhan Intelligent Automobile Software Park, spanning one square kilometer. This initiative has successfully attracted companies in the software information industry, fostering the growth of unicorn enterprises like ECARX and SiEngine in software information.

The 10 policies focus on attracting key enterprises, accelerating the application of industrial internet, encouraging technological innovation, park construction, financing support, and talent attraction and cultivation.

Key automotive software and chip enterprises will be given settlement and investment rewards based on the newly added paid-in registered capital and actual investment (including R&D investment), with a maximum reward of 500 million yuan ($69.7 million).

These enterprises can also enjoy office subsidies, with a maximum subsidy of 100 percent of the actual rent of office spaces and a full subsidy of 2 million yuan for purchasing office areas. They are encouraged to build an industrial cooperation and exchange platform and hold innovation activities, such as industry summits and innovation competitions, with a maximum subsidy of 2 million yuan for each event.