Harbin, capital of China's northernmost Heilongjiang province, recently launched preferential policies to support the development of its manufacturing industry.

The policies are stated in the Several Policies and Measures on Accelerating the High-quality Development of Harbin's Manufacturing Industry and Realizing a Strong Industrial City.

They cover 18 areas, including supporting the construction of key projects, cultivating advanced manufacturing clusters, and reducing corporate financing costs.

According to the policies, Harbin will provide a subsidy of up to 20 million yuan ($3 million) for projects that are included in the statistics and whose annual actual fixed asset investment is more than 20 million yuan.

A subsidy of five percent of the actual annual fixed asset investment of a project will be granted.

For projects undertaking national key research, a maximum subsidy of up to 10 million yuan will be offered.

Meanwhile, a one-off subsidy of 500,000 yuan will be awarded to each new manufacturing enterprise above designated size that is included in the statistics.

Subsidies of 3 million yuan and 2 million yuan will be given to enterprises that win national manufacturing single championships and product single championships, respectively.

A one-time award of 3 million yuan and 500,000 yuan will be given to enterprises recently designated as national and municipal technological innovation demonstration enterprises.

A one-time award of 3 to 5 million yuan will be given to newly-recognized national-level manufacturing innovation centers.

In addition, to further reduce corporate financing costs, Harbin supports the establishment of a capital replenishment mechanism and a compensation risk compensation mechanism for municipal policy guarantee institutions.

For manufacturing enterprises above designated size that meet the requirements and use municipal policy guarantee agencies to guarantee loans, the guarantee fee rate will not exceed one percent.

To strengthen the guarantee of industrial land, Harbin will accelerate the transfer of new industrial "standard land". 

For those who have introduced strategic investors to build industrial parks and standard factory buildings and put them into operation, the reserve price for land transfer will be at least 70 percent of the lowest price standard for industrial land corresponding to the local land level.