Zhuhai pledges solid support for industrial future

The gross industrial output value of the City of Zhuhai is to reach 800 billion yuan ($116 billion) by 2021, it was announced at an industrial enterprises-cultivation work program approved by the municipal government on May 15.

The Zhuhai Industrial Enterprises Cultivation "Ten/ Hundred/ Thousand" Work Program and its implementation policies and measures were examined and approved in the same time.

In accord with industrial development, the Work Program stipulates that Zhuhai will cultivate more than 10 enterprises with annual output value exceeding 10 billion yuan ($1.45 billion). Also called for are more than 100 enterprises with annual output value exceeding 1 billion yuan ($145 million); and over a thousand small- and-medium-sized enterprises with favorable growth opportunity in next five years.

Nanping Science & Technology Industrial Park [Photo courtesy cnrepark.com]

In the meantime, the Work Program calls for implementation of special industrial support policies, greater efforts in investment promotion, ensured land for industrial development, improved construction of industrial park facilities, more financial support, and guaranteed industrial talent. Details will be issued to make sure the measures are carried out.

Moreover, other rules will be issued to encourage enterprises to scale up, merge and reengineer, expand production, improve innovation, and facilitate projects so as to strengthen the groundwork for industrial development.

Fushan Industrial Park [Photo courtesy fsip.gov.cn]

With regards to promoting industrial park development, the city government will raise finances from multiple channels for the construction of transport, education, and medical facilities. 

Efforts will be made to bring in national and provincial public services in terms of finance, technology, logistics, information, and quality control.

To improve financial support, Zhuhai will stand behind enterprise loan risks and subsidize quality loans to help them raise capital and develop. With innovation financial tools, the city will introduce venture capital and industry funds to further financially support local enterprises. 

For industrial enterprises with annual sales revenue first exceeding 100 million yuan ($14.5 million), 1 billion yuan ($145 million), 5 billion ($725 million) yuan and 10 billion yuan ($1.5 billion) each, a one-time award of 100,000 yuan ($14,500), 500,000 yuan ($72,500), 1 million yuan ($145,080) and 2 million yuan ($290,170) each will be granted. It is clarified for the first time that at least 30 percent of the awards will be granted to corporate executives, technicians, and innovation personnel who have made outstanding contributions. 

Sanzao Science & Technology Industrial Park [File Photo]