GDD introduces measures to boost consumer goods industry

Guangzhou Development District (GDD) has put forward a series of eight measures to boost the development of the consumer goods industry on May 20.

The document, which focuses on companies manufacturing products for customers in areas like light industry, textiles, food, medicine, home appliances, and automobiles, is expected to boost the upgrading of GDD's consumer goods industry and meet customers' needs.

Supports will be offered to companies meeting certain requirements in areas spanning industrial chain reconstruction, expanding domestic markets, and online exhibitions.

Companies achieving an import volume of more than 200 million yuan ($28.15 million) in 2019 can receive support from GDD in finding substitute materials if they encounter difficulties in purchasing important supplies for upstream supply chains production from abroad due to reasons like foreign policy restrictions.

Those companies purchasing over 100 million yuan in substitute materials can receive a reward of 5 percent per thousand yuan of the purchase amount up to 1 million yuan.

Companies producing products for automobile and electronics achieving a purchasing amount of over 200 million yuan in substitute materials can receive a reward of 5 percent per thousand yuan of the purchase amount up to 3 million yuan.

Companies with an annual export volume of more than 100 million yuan in 2019 are encouraged to expand their domestic markets. Rewards are available for those achieving positive growth in its main business in 2020 and are gaining progress in developing their domestic markets.

For-profit service companies in the district are encouraged to set up product experiencing centers integrating both online and offline measures to expand their sales.

Up to 10 projects will be selected to receive a one-time subsidy of 30 percent of the actual investment amount. Each company can only apply for the subsidy once and the subsidy for each project is up to 1 million yuan.

Share - WeChat