Shenzhen’s Bao’an district is offering subsidies of up to 100 million yuan for “manufacturing innovation centers” to be established there. The district, which centers on the international airport but is a large-scale logistics and commerce hub in the making, has just released a plan aimed at transforming traditional manufacturing industries through the IoT model, which in China is known as the “industrial internet”.
A set of detailed criteria for the subsidies has been formulated. Any enterprise formally identified as being engaged in industrial internet development, by authorities at the municipal, provincial, or national level, qualifies for financial support if they set up in Bao’an. The district will add up to 50% of funding provided by these higher-level authorities, capped at 50% of the enterprise’s total required investment. Depending on the size of the project, these can be 100 million yuan, 50 million yuan, or 30 million yuan.
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