Guangzhou boosts manufacturing

The Guangzhou city government recently released a new plan to support the manufacturing sector with 59 specific measures, including policies to reduce tax, subsidies, and reform of procedures. 

Taxes for industrial land usage will be cut, while subsidies of up to RMB500,000 will be provided. Approval times for registering a new company and new investment projects will be reduced from 10 to 3 working days via a digital platform.

The city will also support enterprise for digitalization, smart upgrade and green technology development, offering bonuses to companies with revenues of RMB10 million or above.

Other proposals in the plan include reducing electricity and transportation costs as well as supporting large-scale industrial projects. 

Read more (in Chinese).