To encourage businesses to expand their investment in Harbin -- the capital city of China's northernmost Heilongjiang province -- the local government recently issued an investment incentive policy in the wake of the lingering impact of the COVID-19 pandemic.
 
The newly launched document covers manufacturers with annual fixed asset investment of more than 20 million yuan ($3 million) or above – as well as enterprises with annual new equipment purchase investment of more than 5 million yuan or above. Under it, they will receive a subsidy of 5 percent of their investment amount from the Harbin government, up to a maximum of 20 million yuan. 
 
The document declares that the applicants must be enterprises registered in Harbin with an independent legal personality.
 
Furthermore, they should meet the energy consumption, environmental protection, safety and trustworthiness requirements at municipal and national levels.
 
Those that violate national, provincial and municipal joint disciplinary system regulations -- and are listed as targets of joint disciplinary action for dishonesty by relevant departments -- will not be granted the subsidies.