Datong government has recently revealed details of two new policies to attract investment and professionals to the high-end manufacturing sector, with rewards of up to 10 million yuan ($1.57 million) available.
The new policies specify financial rewards which high-end manufacturing projects and firms which base themselves in Datong are eligible to receive, as well as incentives provided to tech workers and leaders in emerging industries to come and start a business in the city.
For example, a completed high-end manufacturing project with investment of more than 1 billion yuan will earn the investor a bonus of 10 million yuan.
Professionals and experts who set up academic workstations in Datong will be offered 5 million yuan awards, and up to 10 million yuan as funding for scientific research.
We aim to develop manufacturing into a pillar industry of Datong’s economy, and lead Shanxi’s industrial transformation and energy revolution by encouraging more investment and professionals to the city through the incentive policies, said Mayor Wu Hongwen.
Datong has previously enacted several policies to attract investment and professionals, including fiscal expenditure of 500 million yuan on industrial transformation projects, a scientific research fund worth 100 million yuan, and a 1- billion-yuan fund targeting top projects at the cutting edge of the energy revolution.
