A total of 6,326 high-tech firms in Shenzhen will be granted more than 300 million yuan (US$41 million) of incentive funding, the city’s science, technology and innovation commission said in a statement Tuesday.
The firms were all identified as high-tech enterprises in 2019. Each company will be offered a subsidy of 50,000 yuan, with the total amount of subsidies reaching 316 million yuan.
Companies that will receive the subsidies include Injoinic Technology Co. Ltd., Shenzhen SNROX Electronics Co. Ltd. and Shenzhen Huahi Red Communication Technology Co. Ltd.
In another development Shenzhen HTI Group Co. Ltd. and the Shenzhen branch of the Export-Import Bank of China have strengthened cooperation, having jointly obtained 10 billion yuan of coronavirus relief funding from the Export-Import Bank of China, according to Shenzhen Special Zone Daily.
The funds are aimed at supporting Shenzhen’s foreign trade industry, manufacturing industry and related supporting industries affected by the epidemic to resume work and production.
Shenzhen HTI Financing Guarantee Co., a subsidiary under Shenzhen HTI Group Co. Ltd., has signed an agreement with the Shenzhen branch of the Export-Import Bank of China, the Daily said.
According to the agreement, the bank will provide bank guarantees worth 10 billion yuan for Shenzhen HTI Financing Guarantee Co. The two sides will launch loan guarantees with favorable interest rates for Shenzhen businesses to help them weather financial difficulties caused by the epidemic.