Policy in Support of Private Enterprises

 (I) Stepping up investment: Qualified nursing homes will be given a construction subsidy of RMB 10,000 (rental housing) or RMB 20,000 (self-built housing) per bed and an operation subsidy of RMB 2,400 per year; those with internal medical institutions will be given a lump-sum medical equipment subsidy of up to RMB 500,000.

(II) Tax reduction: For private industrial enterprises above designated size and private wholesale and retail enterprises above designated size, which had increased their investment as of January 1, 2021 and whose output value and wholesale and retail sales are not lower than the level of the previous year, a reward equal to 50% of the increased investment over a three-year period will be given to them for expanding their production, based on the local tax payment by the enterprises in the previous year. 

(III) Encouraging innovation: Validated (and re-validated) national-level high-tech enterprises are eligible for a one-off reward of RMB 100,000. For those validated as provincial-level technology centers, a reward of RMB 1 million will be given to the enterprise where the center is located; for those validated as national-level enterprise technology centers, a reward of RMB 5 million will be given to the enterprise where the center is located in accordance with the principle of "make-up for promotion". Validated national-level demonstration enterprises for innovation are eligible for a reward of RMB 5 million. 

(IV) Supporting the technological transformation and capital expansion of private industrial enterprises 

  1. For eligible intelligent manufacturing and technological transformation projects, a maximum of 10% subsidy will be given in accordance with the policy of industrial fixed assets investment subsidy, and such projects can enjoy the financing support from the Technological Innovation Fund. 

    2. Projects of capital increase and production expansion with an investment of more than RMB 500 million will be regarded as new investment promotion projects and can be supported in equipment subsidies, business incentives, capital and other aspects.  

  3. For projects newly introduced or with capital increase by the district (development zone) and headquarters, which conform to the industrial development orientation and whose investment exceeds a certain scale, the municipal finance will offer preliminary work funding incentives, among which, projects with an investment amount exceeding RMB 1 billion will be rewarded. 

    4. Qualified private industrial enterprises undertaking technological renovation projects are eligible for an annual subsidy over 10% of the equipment expenses; the cumulative subsidy for a single project is capped at RMB 10 million. Technological renovation projects qualified for the Technical Renovation Service Fund are eligible for simultaneous support from the Fund. 

   To provide institutional support for the development of the private sector, Xiamen has released the Implementation Opinions on Creating a Healthy Growth Environment for Entrepreneurs, Promoting the Entrepreneurial Spirit and Better Tapping the Role of Entrepreneurs, the Measures for Further Supporting SME Development in Xiamen, the Measures for Focusing on Enterprise Growth and Further Implementing the Business Environment Optimization Policy, Several Measures for Creating a Better Development Environment to Support the Reform and Development of Private Enterprises, and Xiamen's Measures for Promoting the Development of the Private Sector. 

From: www.investxiamen.org.cn