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New Harbin policies back manufacturing sector's development 

Updated : 2021-12-14

By ( e.my399.com )

To boost the development of city's industrial economy, the Harbin industry and information technology bureau recently issued new policies and measures to reduce the operating costs of manufacturers above a designated size – those with annual sales of 20 million ($3.1 million) or more – including subsidies and grants. 

Under the initiative, Harbin – capital of Heilongjiang, China's northernmost province  – will give a grant of 300,000 yuan in the first year to newly added manufacturers above a designated size, except for military enterprises. It will give a grant of another 200,000 yuan in the second year if they are still in the statistical database and strictly fulfill their obligations.

The government will also reward manufacturers above a designated size, whose annual output value increases by more than 30 million yuan on the previous year, with 200,000 yuan. Additionally on this basis, for every 20-million-yuan increase in output value annually, another 100,000 yuan will be added. The maximum annual grant for a single enterprise is 5 million yuan.

The two grants will go to enterprises qualified for the requirements without the need to apply.

Certain manufacturers above a designated size, expecting for military enterprises, can also qualify for more support.

To those whose annual operating income increases by more than 20 million yuan in a year and whose current year new working capital loan is more than 5 million yuan, Harbin will give a subsidy of up to 50 percent of the interest.

Among these, companies with loans guaranteed by municipal institutions will be given a subsidy of no more than 2 million yuan.