Chengdu Hi-tech Zone Issues 16 Corporate Beneficial Policies
In recent days, the Chengdu Hi-tech Industrial Development Zone announced the Several Policy Opinions on Optimization of Industrial Service and Promotion of Corporate Innovative Development, which included 16 policies. According to the Opinion, the Chengdu Hi-tech Zone will allot at least RMB300 million in specialized funding in the fiscal budget to support enterprises to intensify investments in research and development. For high and new tech enterprises that allocate one million yuan or more to research, development and experimentation for the year and for enterprises that sign high quality development cooperation agreements with the Chengdu Hi-tech Zone will not only enjoy pre-tax weighted deduction for R&D expenditures, but also a maximum of five million yuan in reward; and enterprises that post an increase of ten million yuan or more in R&D investment compared with last year may receive a reward of up to RMB50 million. The Opinion also proposes a wide array of beneficial policies to encourage aspects such as corporate innovation output, new product development, introduction of new brand, enterprises in emerging industries, smart manufacturing and green manufacturing.