Government subsidies offered to building firms in Guiyang

Building companies that continued operations during the Spring Festival holiday (from Feb 11 to 17) will receive financial subsidies, according to a document issued recently by Guiyang bureau of housing and urban-rural development in the capital city of Southwest China's Guizhou province. 

The subsidies vary in terms of the production value and investment volume of each company during the festival. 

Projects with an investment volume lower than 500 million yuan ($75 million) will be rewarded with a subsidy that equals 3 percent of their production value for the seven days, while projects with an investment volume higher than 500 million but lower than 1 billion yuan will be granted a subsidy that equals 2 percent of their production value. Those with an investment volume above 1 billion will receive a subsidy that equals 1 percent of their production value for the holiday overtime.

The maximum bonus for a single project is 1 million yuan. All of the subsidies will be provided by governments at the municipal and county levels, respectively, at the ratio of 3:7. 

Construction projects that meet the standards above must apply for the subsidy and file the application form before Feb 5.