The “Plan on Continuing to Increase Income of Urban Residents in Guangxi” (the “Plan” for short) was recently issued. According to the “Plan”, Guangxi will strive to gradually increase the per capita income of urban residents to the national average level by the end of 2021.
As for encouraging innovation and entrepreneurship and increasing net operating income, Guangxi will promote “Guangxi Innovation and Entrepreneurship Campaign”. Firstly, it will work hard to build the brand and platform for the activities of the campaign, carry out entrepreneurship service capacity improvement and training programs, set up entrepreneurship service expert group, and regularly hold entrepreneurship competitions, so as to improve the quality of entrepreneurship services. Secondly, it will fully implement policies covering tax revenue, finance and talent to support entrepreneurship. For example, it will vigorously support innovation and entrepreneurship by various types of talents, and support the departure of professional and technical personnel from universities, scientific research institutions and other public institutions to start their own businesses; it will provide a one-time subsidy of no less than 5,000 yuan to college graduates who have graduated from school within 5 years, the person with employment difficulties, and migrant workers who return to their hometowns to start small and micro businesses for the first time and have been operating normally for more than 1 year; it will promote the establishment of Guangxi Science and Technology Innovation Investment Fund, and actively invest in science and technology innovation enterprises; it will improve security mechanisms that encourage innovation and entrepreneurship and tolerate failure; and it will strengthen support for small and micro businesses and accelerate the development of incubators.