On June 24, 2015, the executive meeting of the People’s Government of Guangzhou adopted the initiative to establish special fund for industrial transformation and upgrading. To be specific, from this year, Guangzhou plans to arrange total special fund of RMB3 billion for industrial transformation and upgrading for three consecutive years through integration and increment of capitals. The special fund will be mainly used in three fields, including technical reform, smart equipment and development fund.

 

RMB800 million will be used to support technical reform and transformation and upgrading of manufacturing industry. Emphasis will be laid on supporting key industrial investment projects, production expansion and efficiency improvement projects of enterprises, smart technology application (including robot application to replace manual work), equipment updating, improvement of innovation ability of enterprises’ technical centers, recycle-oriented transformation in industrial parks, construction of public service system, projects of top400 enterprises (100 backbone enterprises, 100 industrial leading enterprises, 100 high-growth small and medium-sized private enterprises and 100 enterprises engaged in emerging industries), transformation of small and micro businesses toward industrial enterprises above designated size, and development of service-oriented manufacturing and producer service industry.

 

RMB700 million will be used to support the development of industrial robot and smart equipment industries. Emphasis will be laid on supporting the construction of smart equipment research institute as well as R&D and industrialization of industrial robots, controllers, servo motors, reducers and other key parts, and related system integration and demonstrative application.

 

RMB1.5 billion will be used as guiding fund to support the establishment of the Industrial Development Fund of Guangzhou. The social capitals raised by Guangzhou Industrial Investment Fund Management Co., Ltd, which are about three times as much as the guiding fund, will participate in the establishment of the Industrial Development Fund of Guangzhou. The mode of equity investment will be adopted for the projects concerning technical reform, transformation and upgrading of manufacturing and development of industrial robot and smart equipment industries in Guangzhou.

 

Source: excerpts from news.sina.com.cn, June 25, 2015