Harbin’s bureau of industry and information technology recently issued the "Implementation Rules for Several Opinions on Supporting the Development of Private Economy and Small and Medium-sized Enterprises," detailing the steps to address issues related to financing, the innovative development of enterprises and improving the public service system.

The document stipulates that the equity financing of small and medium-sized enterprises (SMEs) will be awarded at a lump-sum rate of 4 percent of the total investment.

Enterprises that declare this policy reward must satisfy the following requirements: Their main business, tax registration and statistical channels are within the administrative area of Harbin city; the enterprises have operated for more than two consecutive fiscal years; and the enterprises are honest and not subject to legal penalties, and not included in the list of business exceptions.

Also, enterprise digitalization, intelligent transformation and new investment in fixed assets will be subsidized at a rate of 20 percent of the annual investment.

Enterprises that have received national and provincial digital workshop project funding support will be subsidized by the difference, up to a maximum of 4 million yuan ($600,150).

Meanwhile, Harbin’s industry and information technology bureau encourages and supports the private economy and SMEs to register on the Longha Industrial Cloud Platform. 

Subsidies will be given according to the level of different enterprises – 50 percent, 60 percent and 70 percent of the enterprises' actual annual transactions on the platform for three consecutive years. The annual subsidy for a single enterprise will not exceed 100,000 yuan. 

Harbin’s government will additionally reward 500,000 yuan each for small and medium-sized enterprises with a public service platform that ranks in the top 10 in the city, and reward 300,000 yuan each for those ranking from 11th to 20th.