Guangdong issued 12 measures to stimulate the vitality of market entities and accelerate the Modern Industrial Development
Source: Southcn.com
The annual new bank loans for manufacturing and high-tech enterprises are up to 20 million yuan for a single enterprise; the province coordinates resources to integrate and establish industrial investment funds and venture capital funds with a total scale of over 1 trillion yuan, of which the provincial fund scale exceeds 100 billion yuan; a one-time reward of up to 6 million yuan is given to the global R&D centre of multinational companies...
To further support the innovative development of market entities, accelerate the construction of a modern industrial system, and solidly promote high-quality development, on April 30, the General Office of the People's Government of Guangdong Province issued the "Several Measures for Guangdong Province to Further Stimulate the Vitality of Market Entities and Accelerate the Construction of a Modern Industrial System" (hereinafter referred to as "Measures"), and launched 12 measures to stimulate the vitality of market entities with real money.
The total scale of interest subsidy loans is up to 200 billion yuan each year
The measures propose to highlight the cultivation and development of cutting-edge track industries. Focusing on key areas such as integrated circuits, artificial intelligence, robots, autonomous driving, low-altitude economy, biomedicine, quantum technology, commercial aerospace, new energy storage, new energy vehicles, digital economy, and modern marine ranches, we will compile an industrial chain investment map, establish a database of leading enterprises and leading talents, and implement targeted investment promotion policies. For particularly important industrial attraction projects, we will formulate more precise support policies in accordance with laws and regulations based on the characteristics of the industry.
In terms of reducing the financing costs of manufacturing and high-tech enterprises, the measures propose that for annual new bank loans to manufacturing and high-tech enterprises, which are used for factory construction, equipment purchase, technological transformation, scientific and technological research and development, excluding new loans to repay old loans, land purchases, etc., the provincial finance department will subsidize interest at a rate not exceeding 35% of the bank loan interest rate, with a maximum annual subsidized loan scale of 200 billion yuan. During the policy implementation period, a single loan contract can enjoy a subsidy of no more than 1 year, and the annual subsidy amount for a single enterprise is up to 20 million yuan. Give full play to the role of government financing guarantee in credit enhancement, risk sharing and empowerment, increase the registered capital of provincial financing guarantee institutions, implement supporting fee reduction rewards and compensation, expand the coverage of government financing guarantee, and promote the annual government guarantee financing scale of our province to exceed 100 billion yuan. The specific implementation rules of the above loan interest subsidy and financing guarantee policies will be formulated separately. Encourage local cities to formulate corresponding loan interest subsidy and financing guarantee policies in light of their actual conditions.
In terms of building a strong industrial fund system, the measures propose that the province coordinate resources to integrate and establish industrial investment funds and venture capital funds with a total scale of more than 1 trillion yuan, of which the provincial fund scale exceeds 100 billion yuan, and use state-owned capital to drive social capital, forming an effective investment system such as angel investment, venture capital, private equity investment, corporate mergers and acquisitions investment, S funds, etc., focusing on early investment, small investment, future investment, and hard technology investment. Actively connect with overseas sovereign funds and internationally renowned investment institutions, and promote more than 100 investment cooperation projects each year. Implement the "Guangdong Investment and Guangdong Introduction" project roadshow special action to introduce 1,000 high-growth projects each year. Each city can set up subdivided track industry funds based on actual conditions.
Maximum reward for foreign-funded regional headquarters of 8 million yuan
The measures also propose to enhance the support level of headquarters. On the basis of implementing the current provincial-level support policy for regional headquarters of foreign-funded multinational corporations, new level rewards will be added, and a one-time reward of up to 8 million yuan will be given to headquarters in China, Asia-Pacific, and global headquarters of business units. Each city can formulate supporting support policies for regional headquarters of multinational corporations in accordance with laws and regulations based on actual conditions. At the same time, support the establishment of foreign-funded R&D centres. For foreign-funded R&D centres that meet the conditions identified by the provincial-level commerce and science and technology authorities, a one-time subsidy of up to 1 million yuan will be given. Among them, for global R&D centres of multinational corporations, a one-time reward of up to 5 million yuan will be given.
In terms of factor guarantee, the measures propose to implement land guarantee and strengthen environmental protection factor guarantee. The land for major advanced manufacturing projects should be guaranteed as much as possible, and major industrial projects are allowed to prepay the planned indicators of new construction land. Strengthen the linkage between planning environmental impact assessment and construction project environmental impact assessment, implement environmental impact assessment reform measures in accordance with regulations for qualified construction projects, and optimize and simplify the environmental impact assessment management of construction projects.
In terms of vigorously attracting innovative and entrepreneurial talents, the measures propose to implement the "One Million Talents Gathering in South Guangdong" action plan to attract more than 1 million college graduates and various talents to Guangdong for employment and entrepreneurship every year. Cities with conditions provide policy support such as transportation subsidies and accommodation convenience for college graduates who come to Guangdong to seek employment. Support policies such as "one person applies, the whole family settles down" are implemented for key talents in high-end, high-tech and cutting-edge fields.
The measures also propose a series of specific measures to strengthen enterprise services and protect the legitimate rights and interests of enterprises and entrepreneurs, such as establishing a first-talk and first-report mechanism for major projects of more than 5 billion yuan to prevent the "involution" of investment promotion from causing trouble to enterprises; responding to calls from enterprises in Guangdong, not disturbing them when there is nothing to do, and going to them when there is something to do.
In terms of increasing investment promotion incentives, the measures propose to establish a scientific and reasonable investment promotion evaluation mechanism, and give a one-time reward of 5 million yuan every quarter to cities, counties (cities, districts) with significant results in investment promotion and gathering market entities, which will be used specifically for investment promotion, service enterprises, publicity and promotion, etc.
This policy will be implemented from 2025 to 2027. Shenzhen will formulate its own policies on loan interest subsidies, financing guarantees, foreign-funded R&D centres, and investment promotion incentives based on this policy.
Disclaimer: This article is published by 南方日报 Southcn and has been translated into English. If there is any inconsistency or ambiguity between the English version and Chinese version, the latter one shall prevail. The full text of the article, in Chinese, can be found below: https://www.gd.gov.cn/zwgk/zcjd/mtjd/content/post_4705683.html