Xi'an to boost development of advanced manufacturing

Xi'an, capital of Northwest China's Shaanxi province, recently issued a series of policies to accelerate its development as an advanced manufacturing city, according to local officials.

They said the policies covered supporting the technological transformation of companies, increasing investment promotions and boosting the development of industrial clusters.

Technological transformation projects with fixed asset investments of more than 10 million yuan ($1.43 million) will, after completion and passing acceptance, be given an annual subsidy of 2 percent of the actual investment in fixed assets, up to a maximum of 20 million yuan.

Newly built manufacturing projects introduced from outside the city, or implemented by local enterprises with fixed asset investment of more than 50 million yuan, will be granted a subsidy of 5 percent of the actual fixed asset investment amount, if the entire investment is completed within three years. The maximum subsidy is not more than 5 million yuan.

For leading enterprises in advanced manufacturing industry clusters who rent standard workshops, starting from the lease time stipulated in the formal lease contract, the first three years will be rent-free and rent for the next two years will be halved.

The city will also encourage closer business links and coordinated development between manufacturers. If a company produces or supplies manufacturing products worth more than 10 million yuan, it will be subsidized at 2 percent of the increase from the previous year, up to a maximum of 2 million yuan.

In addition, the city will organize for two groups of manufacturing entrepreneurs to receive training and studies in advanced manufacturing advanced regions at home and abroad every year.