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West China

Subsidies for Chengdu progress

2017-05-26 11:12:58

The Chengdu city government has adopted a special policy to encourage the integration of military technologies into civilian business.

The policy, made public last September, supports major projects involving civil-military integration and encourages civilmilitary integrated businesses to undergo reforms in ownership, increase their market-driven operations and improve their securitization.

Participants in fixed ownership reforms will receive up to 1 million yuan ($145,000) in government financial aid. Civil-military integrated businesses will also be awarded no more than 5 million yuan in government financial aid for their initial public offerings in major capital markets at home and abroad.

The government also supports civil-military integration enterprises in building regional headquarters, research institutions and production bases in Chengdu.

Under the policy an investment project worth at least 500 million yuan will receive 2 percent of its expenditure on fixed assets spent within two years in return in the form of government financial aid, if its construction can begin within one year after the deal is signed.

Local governments will be awarded 10 million yuan in industrial park infrastructure subsidies if they can attract a project with investment value of at least 1 billion yuan.

The Chengdu government will award a civil-military integrated business no more than 100,000 yuan when it is granted a patent.

Civil-military integrated companies will receive a 3 million yuan award for bringing in top global experts.

The city government will earmark 500 million yuan and attract more capital from the private sector to found an industrial investment fund of up to 2 billion yuan for civil-military integrated businesses.

The fund will be used for building a public service platform, promoting industrialization of military technologies in civilian production and reforms in business governance and operation.

Chengdu plans to build the innovative industrial park to serve as a national model, with its annual business revenue projected to surpass 150 billion yuan by 2020, according to an industrial development blueprint of the city for the 13th Five-Year Plan (2016-20).

 

Source from China Daily

Editor:Jiang Yiwei