Recently, the People’s Government of Guangxi Zhuang Autonomous Region has issued “Several Policies and Measures on Promoting Industrial Revitalization” (hereinafter referred to as the “Measures”). From 2021 to 2023, a total of 40 billion yuan will be arranged each year in the whole region to support industrial revitalization.
The “Measures” proposed that the plan of investing tens of billions of yuan in enterprise cultivation will grant industrial enterprises above designated size up to 10 million yuan as award. The plan supports the upgrade of individual businesses to enterprises and the development of small businesses to industrial-scale enterprises. New enterprises which have just entered the database will receive a one-time reward of 100,000 yuan (excluding enterprises which change their category or withdraw from the database in the year they enter the database). Newly entered high-tech manufacturing and strategic emerging enterprises will be awarded an additional 100,000 yuan. At the same time, the “Measures” clarified that for eligible newly-built major industrial projects, the enterprises will be rewarded afterwards based on 30% of the income of their local economic contribution to Guangxi Zhuang Autonomous Region in that year within 5 years from the date of commissioning.