Recently, Guiyang printed and issued the "Several Policies and Measures For Speeding Up the Promotion of Industrial Restructuring and Upgrading (Revised)". It clearly stated that Guiyang would promote this cause through 19 aspects.
The 19 aspects are: encouraging enterprises to restructure and upgrade; setting up a fund to guide industrial development; setting up compensation funds for credit risks; setting up on-loan emergency funds; setting up compensation funds for guarantee risks; strengthening technological research and industrialization; strengthening industrial innovation and design; strengthening artificial intelligence in manufacturing; strengthening service-oriented manufacturing; supporting the establishment of an innovation system for manufacturing; supporting the establishment of platforms for public service; strengthening the use of intellectual property; supporting enterprises to develop in a specialized, unique, outstanding, and delicate way; promoting advanced technology and methods for quality management; strengthening the building up of enterprise brands; supporting enterprises to expand rapidly; supporting the building of platforms for entrepreneurship and innovation; supporting the setting up of standardization systems; and supporting enterprises to go public for financing.
To encourage enterprises to restructure and upgrade, according to the "Document Concerning the Statistic Classification of Large, Medium, and Small Enterprises", Guiyang will give a one-time bonus worth 500,000 yuan ($73,849), 300,000 yuan, and 100,000 yuan to large, medium, and small enterprises respectively which engage in the "One Enterprise One Policy" restructuring and upgrading program, which are above designated size and have won approval for their implementation programs.
As for the setting up of a fund to guide industrial development, Guiyang's industrial and information committee initiated the establishment of the Guiyang Fund for guiding industrial and information development with a size of about 2 billion yuan, of which 200 million yuan will be contributed by municipal public finance departments and 14.3 million yuan contributed by the public finance departments of districts (cities, or counties) and the development zone.
A maximum of 70 percent of the guiding fund will be devoted to making equity investment to enterprises in Guiyang who participate in the "One Enterprise One Policy" restructuring and upgrading program through direct investment. A minimum of 30 percent of the guiding fund will be dedicated to sub-funds and to guide it to focus on leading enterprises in areas like health and medicine, electronic information, specialty characteristic foods, new construction materials, phosphor fine chemical engineering, and aluminum fine processing.
Guiyang will continue to improve the compensation mechanism for investment risk, providing appropriate compensation for investment losses incurred in guiding the investment of fund-participating sub-funds, increasing the enthusiasm of investment enterprises or projects of fund-participating sub funds.
Guiyang will also establish a capital pool to compensate for the credit risks of SMEs. When loaning loss occurs, the pool and the cooperative bank will split the bill 80 percent to 20 percent.
Concerning the setting up of a platform for innovation and entrepreneurship, Guiyang will give a one-time bonus worth 1 million yuan, 500,000 yuan and 300,000 yuan to the newly accredited national-level, provincial-level, and municipal-level demonstration zones respectively for small and micro enterprises.
For the newly accredited national-level, provincial-level, and municipal-level demonstration platforms for SME public service, it will give a one-time bonus worth 500,000 yuan, 300,000 yuan, and 200,000 yuan respectively.
To support enterprises go public for financing, Guiyang will give eligible organizations bonuses. For enterprises listed on domestic main boards or other overseas stock exchanges, Guiyang will give a bonus of 10 million yuan. For enterprises listed on the SME board and Growth Enterprise Market, it will give a bonus of 5 million yuan. For enterprises listed on the National Equities and Exchanges and Quotations board, it will give a bonus of 1.5 million yuan.
