Favorable policies strengthen Xiuwen's industrial development

Xiuwen county, Guiyang, capital city of Southwest China's Guizhou province launched several supportive measures to promote local industrial enterprises' development on Aug 24.

The measures are designed to help industrial enterprises tide over difficulties and promote their sustained and steady development, thus supporting the county's economic and social development.

Before the end of September 2020, Xiuwen will strive to supply all the property legally approved to industrial enterprises that have signed an investment promotion agreement but have not yet received the land.

The land will be provided at a favorable price, which is no higher than 200,000 yuan ($29,180) per mu (0.07 hectare), and be awarded to industry-leading enterprises, high-tech companies, champion enterprises in the manufacturing industry, unicorn companies and entities newly included on the world's top 500 enterprises list.

Xiuwen will subsidize employees who have obtained national vocational qualifications or skill level certificates. Authorities will also offer enterprise training subsidies: 1,000 yuan for junior workers, 1,500 yuan for intermediate workers, 2,000 yuan for senior workers, 4,000 yuan for technicians and 6,000 yuan for advanced technical personnel.

The county will allocate incentive funds for manufacturing enterprises above the designated scale -- with an annual sales revenue surpassing 20 million yuan -- that have reached target output or expanded production. It will also speed up the distribution of special subsidy funds and matched county-level funding.

Meanwhile, a meeting to improve the exchange between government departments, banks and enterprises will be held once a month. Xiuwen encourages financial institutions to innovate financing methods for insurance policy pledges, biological assets, accounts receivable, machinery and equipment and movable property.

This year, the county will allocate 10 million yuan to discount interest on new loans to industrial enterprises above the designated size and those with a good potential for future growth. The discount rate will be calculated based on the benchmark interest rate, and the discount rate for a single enterprise shall not exceed 1 million yuan.

The county government will also provide subsidies for the newly-added financing guarantee fees for industrial enterprises above the designated size. It will provide 300,000 yuan each year to cover guarantee fees for county-level companies.

There are also favorable tax rebates. Suppose the tax paid by industrial enterprises above the designated size in the current year is higher than the previous year. In that case, the county will award 10 percent of the remaining disposable portion of the new tax paid by them, while not exceeding 1 million yuan for a single enterprise.

The county also plans to build a product exhibition center focusing on industrial products by the end of 2020. The industry department will lead the center's development and organize a monthly production and marketing meeting.

Xiuwen county encourages enterprises to expand the market by "going out" and "bringing in." It has promised to cover half of the booth fees spent by industrial enterprises in production and marketing matchmaking events and trade fairs. However, the subsidy will be controlled within 200,000 yuan for a single enterprise.

The county will also study the problems encountered by industrial enterprises during the production process – including issues related to water, gas and electricity supply, transportation, waste treatment and labor – and help find solutions.