Shenzhen-based enterprises and projects from emerging industries such as high-end equipment manufacturing, biomedicine, new materials, artificial intelligence (AI) and Internet of Things (IoT) can receive subsidies, according to the city’s industry and information technology bureau.
The subsidies are drafted to support projects in four aspects, specifically supply chain promotion projects, industrial service system projects, market access projects and national and provincial supporting projects, according to staff with the Municipal Industry and Information Technology Bureau.
The subsidies will all be issued after the conclusion of each project, according to the plan on supporting emerging industries released by the city.
The subsidies for supply chain projects in industries including high-end equipment manufacturing, biomedicine, AI and IoT is set at 20 percent of the project cost confirmed by audit agencies, with the highest amount of 3 million yuan (US$423,974) for each project.
The subsidies for new material industry’s supply chain promotion projects will be mainly provided for testing fees on new products and technologies, which totals 30 percent of the testing-related fees determined by audit agencies.
Each project can receive 3 million yuan at most. The subsidy limit for each company is 5 million yuan with no more than three materials receiving subsidies.
For industrial services, 50 percent of the fees on public service projects will be subsidized, with the highest amount set at 3 million yuan.
Forums and conferences, held in the city and organized on behalf of the municipal government, will be sponsored, but capped, at 3 million yuan.
For those held on behalf of social organizations (firms in exhibition industry excluded), a subsidy worth 50 percent of the project fees will be issued, also with the maximum amount of 3 million yuan.
Projects concerning market access, which have been recognized by international or national authorities, will be subsidized 50 percent of the project fees, capped at 1 million yuan and 500,000 yuan, respectively.
Additionally, each firm can receive a maximum of 5 million yuan in subsidies each year.
National and provincial supporting projects will be subsidized with the same amount of subsidies provided by the Central or provincial government, with the highest amount of 15 million yuan for each project. At the same time, the total amount of the subsidies and other funds received from the country, province and the city should be no more than 40 percent of the projects’ total investment.