At the 212^th session of the 14^th Executive Meeting of Guangzhou Municipal Government, the Implementation Measures of Guangzhou on Mainly Serving 100 Innovation Benchmark Enterprises (the Measures for short) was adopted on July 18. Guangzhou will rank 100 “Guangzhou Innovation Benchmark Enterprises” every year for five consecutive years and offer financial support and key account services to them.  

 

The Measures stipulates that four kinds of Guangzhou Innovation Benchmark Enterprises, namely high-growth innovation benchmark enterprises, technological innovation benchmark enterprises, mode innovation benchmark enterprises, and platform innovation benchmark enterprises, will be ranked comprehensively from the aspects of innovation concepts, mode and input and growth trend and others. The ranking covers both the leading enterprises with strong comprehensive strength, and emerging high-growth enterprises in some fields, and the enterprises with groundbreaking concepts, and platform enterprises integrating innovation, startup, creativity, investment and incubation and other services. This is different from the common ranking from the aspects of the enterprise size or development speed, but highlights innovation performance of enterprises. The Measures sets forth higher requirements on the technological innovation of the high-growth enterprises and technological innovation benchmark enterprises. The high-growth innovation benchmark enterprises should take a leading position in the niche sector, in addition to annually 30% growth of the main operating revenue in the past three years; the technological innovation benchmark enterprises should be strong in the research and development, in addition to owning globally groundbreaking technology or internationally leading or equally advanced technology, and the R&D input accounts for no less than 5% of the annual total sales revenue in the past three years.

 

Fiscal support will be granted to the Guangzhou Innovation Benchmark Enterprises. For the high-growth innovation benchmark enterprises and technological innovation benchmark enterprises, an award equaling to the amount of the fiscal subsidy granted in line with the Implementation Measures of Guangzhou for Enterprises R&D Input Subsidy (Sui Ke Xin [2014] No.2) will be granted, no more than RMB5 million the highest; the mode innovation benchmark enterprises and platform innovation benchmark enterprises are eligible for an award of RMB1 million. Guangzhou Municipal Development and Reform Commission, technological innovation, human resource and social security, land planning, intellectual property, and financial departments will offer key account services centering on solving problems of enterprises in the financing and land use, carry through various technological innovation and talent policies, enhance green growth of enterprises, implement the innovative products and service forward contract governmental procurement, intellectual property protection, and enhance publicity and foreign cooperation.

 

Source: Translated from Invest Guangzhou, July 19, 2016