Huangpu releases measures to boost domestic economic cycle

Guangzhou's Huangpu district launched eight measures to boost the domestic economic cycle on Aug 24.

Through the measures, Huangpu will strive to foster independent industrial chains and enhance its stability. Key support will be given to newly settled leading enterprises that have a strong presence in its industry. Rewards will be granted to leading enterprises if they bring in its upstream/downstream enterprises that are key to, address weaknesses in or are missed by the pillar and emerging industrial chain.

Enterprises and institutions are encouraged to achieve breakthroughs in key technologies. Projects supported by provincial or municipal science and technology authorities will be rewarded a maximum fund of 5 million yuan ($723,500). An additional reward of up to 10 million yuan will be available if these local projects were put into scaled production and application in China for the first time.

Press conference.

Enterprises that purchase Huangpu-made innovation project that fill in national gaps will be given a subsidy of up to 5 percent of the expenditure, with a maximum subsidy of 3 million yuan for a single enterprise.

Moreover, the measures encourage export products to be sold domestically. A maximum reward of 50,000 yuan will be granted to enterprises that organize online and offline product supply and demand information release meetings, as well as complete deals. In addition, a maximum subsidy of 100,000 yuan will be given to participants of international expos held in China.

The measures also encourage the development of online new economy industries related to education, medical treatment, culture and entertainment, digital agriculture, as well as e-commerce. A reward of up to 1 million yuan will be given to demonstration smart stores, smart commercial blocks, and smart business circle projects recognized by national, provincial or municipal commercial departments.

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