The Harbin science and technology bureau issued a white paper entitled Special Implementation Opinions on Harbin Young Eagle Plan on May 15, which outlines a plan to provide subsidies and financial support for the city’s high-tech projects, according to officials in Harbin, capital of China’s northernmost Heilongjiang province.

According to the white paper, the execution period of the plan will last until the end of 2021.

Officials said the support methods of the Young Eagle Plan include research and development funding and technology financial support.

Project R&D funding will be based on each project’s capital budget. Qualified projects will be granted a subsidy of 300,000 yuan ($42,200) to 1 million yuan based on comprehensive assessment and evaluation by experts.

A total of 50 percent of a subsidy will be allocated when a project is established. The remaining funds will be allocated or canceled, based on the acceptance conditions once the project execution period is over.

Some projects that meet key support conditions prescribed by the government will be allocated all the subsidies at once after the project is established.

Enterprises that have passed project acceptance, have good growth space and are willing to list on market will be granted up to 5 million yuan of "policy + market" equity financing support, up to 5 million yuan of patent rights, equity and other intangible asset pledge loan guarantee support.