Huangpu releases policies to support 'little giant' enterprises

Guangzhou's Huangpu district took the lead in the country to release dedicated policies for specialized, elaborative, characteristic, and innovative enterprises on Aug 27, offering comprehensive support in their settlement, R&D and innovation.

Also known as "little giants," the specialized, elaborative, characteristic, and innovative enterprises refer to those small and medium-sized enterprises that own core technologies, and have strong innovation capabilities, large market shares, and high profitability.

Huangpu hosts a press conference on the 10 supportive measures on Aug 27.

Huangpu will offer a one-time reward of 2 million yuan ($309,200) to newly settled national "little giant" enterprises. A maximum subsidy of 2 million yuan will be granted to expansion projects of local "little giant" enterprises. Major industrial projects of national "little giant" enterprises will receive a reward of up to 100 million yuan based on their fix-asset investment.

Specialized, elaborative, characteristic, and innovative enterprises at provincial and national levels will be granted a subsidy of 500,000 yuan and 2 million respectively. "Champion" enterprises of the national manufacturing industry in specific areas of expertise will receive 5 million yuan.

Specialized, elaborative, characteristic, and innovative enterprises will be prioritized by Huangpu in terms of loan amounts and listing cultivation. Those succeeding in going public will receive a total reward of 8 million yuan.

Five select industrial parks for specialized, elaborative, characteristic, and innovative enterprises will be subsidized 50 percent of their operation fees, and the maximum amount for a single operator is 2 million yuan. In-house enterprises will be subsidized 50 percent of rent for office and workshops at a maximum amount of 1 million yuan.

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