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Harbin launches investment, employment stimulus policies

Updated : 2020-05-19

By ( e.my399.com )

The Harbin municipal government recently launched 11 measures to increase subsidies, support stable employment and strengthen guaranteed services, according to local officials in Harbin, capital of China’s Northernmost Heilongjiang province.
They said the government will push to reduce the impact of the novel coronavirus epidemic on the economy and hit economic development targets for the whole year.
Under the measures, the Harbin government will grant a 50 percent monthly subsidy on the interest payable on loans incurred by newly established industrial projects, digital and intelligent transformation of industrial projects and on the construction of plants in industrial parks.
Projects applying for the subsidies should have an investment of more than 5 million yuan ($703,900).
The subsidy period is up to the end of 2020 and a single company can obtain a maximum subsidy of 2 million yuan.
To support the recovery of culture and tourism activities, all State-owned scenic spots under the jurisdiction of Harbin government will provide a 50 percent discount on tickets from their reopening day until to the end of 2020.
Non-local tourists who come to visit Harbin will be given a subsidy of 50 yuan per person per day.
Travel agencies organizing tourist trips to Harbin can obtain a subsidy of 50 yuan from each tourist spending the night in the city. The maximum annual subsidy for each agency is 500,000 yuan.
Enterprises that organize large-scale cultural and tourism activities will be granted a subsidy of 20 percent of the actual input costs, with no more than 100,000 yuan granted per time.
Small and micro-sized enterprises in the retail, accommodation, catering, cultural tourism and other industries -- that are greatly affected by the epidemic -- will be granted loan subsidies based on their actual loan amounts incurred from Jan 1, 2020 to June 30, 2020.
Meanwhile, relief will be given on loan interest payable on loans from 10 million yuan to 5 million yuan, from 5 million yuan to 100 yuan, from 1 million yuan to 100,000 yuan and below 100,000 yuan, from Jan 1 to June 30.
Corporate borrowers can apply for subsides of 20 percent, 30 percent, 50 percent and 100 percent of the actual loan interest payable each month.
Officials said the maximum loan subsidy period shall not exceed six months.
The Harbin government will also increase subsidy support for business incubators.
It will provide subsidies from 100,000 yuan to 5 million yuan in investment, operations and upgrading awards for different types of innovation platforms. These include technology business incubators, small and micro-sized enterprise innovation and entrepreneurship bases, business incubation bases and agricultural innovation and entrepreneurship platforms.