Fujian boosts industrial parks development

( chinadaily.com.cn )

Updated: 2015-09-25

Fujian government has issued a series of policies to boost national and provincial-level industrial parks, reported Southeast Express Friday.

The policies encourage national economic and technology parks to open Intellectual Property(IP) zones and explore cooperation in innovation.

The province will subsidize new business incubators by a standard of 100 yuan per square meter, with a cap of one million yuan. It will also shell out one-time prizes of 500,000 yuan for provincial incubators and one million yuan for national ones.

Qualified industrial projects at parks with fixed assets investment exceeding 500 million yuan will be able to apply for incentives equivalent to 0.05 percent of the investment volume, with a cap of 5 million yuan.

Fortune 500 companies at parks will get the equivalent of 1 to 3 percent of their registered capital as subsidies. The money will be deducted from their annual corporate taxes.

The document also urges greater environmental protection efforts, with warnings for enterprises with subpar environmental performance.