China’s Shenzhen city government offers subsidies of up to 100 million yuan ($14 million) per project to factories to help the manufacturing sector transform everything from product development, production and delivery to service after-sales and digital and network technology. some, Yicai reported on December 1.
Factories that invest 500 million yuan ($70.1 million) or more in key digital transformation projects will receive a subsidy of 10% of the total investment, up to a maximum of 100 million yuan, according to a policy released yesterday by the municipal government.
Manufacturers are encouraged to shift to high-tech digitally controlled machine tools, industrial robots, smart sensors and controls, and other smart equipment, the document says. The use of the latest information technologies is also encouraged, such as the fifth generation mobile network, the Internet, big data, the Internet of Things and artificial intelligence.
For factories with smaller budgets that invest 10 million yuan ($1.4 million) or more in smart transformation projects, they can receive subsidies of up to 20% of the total investment, up to a maximum of 50 million yuan . No more than 30% of the grant should be allocated to outsourcing software development and R&D.
The local government also offers subsidies to other industries, such as clothing, furniture, jewelry and public service platforms, to help them go digital.
Source: Rossa Primavera
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