Photo captures a view of Huishan district, Wuxi. [Photo/wxrb.com]
Huishan district of Wuxi released a series of measures to promote the high-quality development of modern industry on May 11.
The district plans to raise 10 billion yuan ($1.55 billion) in financial funds to support the transformation and development of enterprises during the 14th Five-Year Plan period (2021-25), according to officials.
Huishan district will establish a district-level industrial fund of 5 billion yuan, as well as guide the establishment of various equity investment funds of more than 30 billion yuan for enterprises at all stages of development. The fund will be mainly used on emerging industries, such as high-end equipment manufacturing, smart manufacturing, new energy, new materials, biomedicine, and quantum sensing.
Major projects with an investment of more than 500 million yuan in advanced manufacturing or more than 100 million yuan in the modern service industry will receive key support from the district.
Enterprises in the district are encouraged to increase investment in their intelligent transformation. Rewards of up to 10 million yuan will be given to affirmed enterprises that speed up technological transformation and innovation, carry out digital transformation and industrial internet development, as well as build up modern service systems.
Rewards of up to 10 million yuan will be given to enterprises that make their debut on the main board of domestic and overseas markets, while rewards of up to 15 million yuan will be given to those who are listed on the science and technology innovation board.
The district also welcomes high-end talents and their projects on technological innovation. Following the Taihu Talent Plan, financial support of up to 300 million yuan will be given to designated projects.
