22 July 2024
On 22 July 2024, the General Affairs Office of the Guangzhou Municipal People’s Government issued the “Various Measures for Promoting the Implementation of Technological Transformation of Industrial Enterprises in Guangzhou Municipality” (“the Measures”). The Measures provide financial supports for technological transformation, promotion of "Four Changes" (digitalisation, networking, intelligence, and greening), digital transformation to accelerate the new industrialisation and large-scale equipment renewal. Among them, enterprises shall receive technological transformation incentives not exceeding RMB 30 million, and loan interest subsidies and financial leasing subsidies not exceeding RMB 5 million per year. The Measures will be implemented from 22 July 2024 and valid until 31 December 2027.