Qingdao West Coast New Area (Qingdao WCNA) rolled out 20 measures on May 31 to boost the high-quality development of the advanced manufacturing sector.
According to the measures, rewards and subsidies from the local government will be offered to support enterprises to become bigger and stronger and encourage them to improve innovation capabilities, and support industrial transformation and upgrading, the rapid development of the digital economy, and the transfer and transformation of scientific and technological achievements, as well as optimize the environment for the development of enterprises.
Industrial enterprises selected for the first time in the World' Top 500, China's Top 500, Top 500 in China's Manufacturing Industry, or Shandong province' Top 100, will receive rewards of up to 20 million yuan ($2.98 billion), 6 million yuan, 4 million yuan, and 2 million yuan, respectively.
Newly-recognized national-level or provincial-level intelligent manufacturing benchmark enterprises, intelligent manufacturing demonstration factories (smart factories), and digital workshops, will be granted a one-time reward of up to 2 million yuan and 1 million yuan, respectively.
Enterprises that have been approved to build national-level, provincial-level or municipal-level manufacturing innovation centers will be rewarded with a maximum of 5 million yuan, 2 million yuan and 1 million yuan, respectively.
The measures have been in effect since May 31 and will be valid until Dec 31, 2024.