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Real economy incentives maintained, strengthened


Updated: 2018-11-19

The city of Zhuhai is to maintain real economy growth and attract new investment by providing beneficiaries of previous trials with greater financial incentives. Although of a wider scope, the awards will be subject to strengthened follow-up inspections.

Following approval on Nov 15, the government is in position to formally implement the measures, which will be valid through 2020. 

The measures apply to high-end equipment manufacturing, new-generation information technology, smart home appliances, biomedicine, energy-conservation, environmental protection, new-energy, new-materials, modern agriculture, and marine economy industries.


High-end equipment manufacturing [File photo]

Each new project in these fields will be allocated 2 million yuan ($288,300) for every $10 million or 100 million yuan ($14.4 million) in paid-in registered capital of its controlling entity. The maximum reward is doubled to 100 million yuan.

A subsidy of up to 3 million yuan ($432,451) will be granted to every add-on of $10 million or 100+ million yuan to a project entity's registered capital.

Enterprises whose year-on-year growth of prime operating revenue exceeds 100 million, 500 million ($72 million), 1 billion ($144 million) or 3 billion yuan ($432 million) will be awarded up to 2 million ($288,300), 4 million yuan ($576,600), 6 million yuan ($864,900), 12 million yuan ($1.7 million), and 20 million yuan ($2.9 million) respectively.

Eligibility will be canceled in case of severe safety and quality accidents or serious environmental violations, according to officials.

Zhuhai issued tentative measures on May 1 last year. A total of 561 million yuan ($81 million) has been claimed from municipal and district governments.

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