According to the Department of Industry and Information Technology of Guangxi Zhuang Autonomous Region, with the consent of the People’s Government of Guangxi Zhuang Autonomous Region, Guangxi would award private-owned industrial projects once they are put into production from 2019 to 2023.
Those awarded should be locally-registered and private-owned industrial enterprises above designated size, with the status of an independent legal entity, independent accounting, good faith and sound tax records. They should also work on industrial projects (including investment-promotion projects and technological transformation projects) that meet the conditions required by national industrial policies and Guangxi’s high-quality industrial development. Those projects should have been put into production. Mixed-ownership enterprises controlled by private enterprises are included in the scope of rewards. Awarded projects should comply with the demands of key industries stipulated in two documents -- “Decision of the CPC Guangxi Zhuang Autonomous Region Committee and the People’s Government of Guangxi Zhuang Autonomous Region on Promoting High-quality Industrial Development” (No. 11 Document of 2018 issued by Guangxi Zhuang Autonomous Region) and “Action Plan of the People’s Government of Guangxi Zhuang Autonomous Region on Realizing High-quality Development (2018-2020)” (No. 30 Document of 2018 issued by the People’s Government of Guangxi Zhuang Autonomous Region). In addition, these projects or their key parts should also be operated in Guangxi, should have completed related approval procedures and have invested more than 10 million yuan in fixed assets, and should be completed and put into production according to the approval time stipulated in related documents or in the investment agreement. These projects should be completed and put into operation during the period of 2018 to 2022, and those completed before 2018 will not be included.
The amount of rewards will be proposed by the Department of Industry and Information Technology of Guangxi Zhuang Autonomous Region according to the annual production of private industrial enterprises, while the Department of Finance of Guangxi Zhuang Autonomous Region will appraise and decide it. Several determinant factors will be taken into consideration, like the fixed asset investment completed by private enterprises and the reward budget. For promising private enterprises (active in the period of validity), the amount of rewards may be increased reasonably. The maximum amount of rewards for one private enterprise in one year should not exceed 10 million yuan, and the projects that have signed agreements with government departments at any levels and gained funds according to the agreement will be excluded. For the individual projects that have been declared and supported by special funds, their production rewards should not include any financial support funds they have enjoyed. The incentive measures should be proposed and formulated by the Department of Industry and Information Technology of Guangxi Zhuang Autonomous Region and the Department of Finance of Guangxi Zhuang Autonomous Region and should be reported to the People's Government of Guangxi Zhuang Autonomous Region for examination and approval.