Beijing Economic-Technological Development Area (Beijing E-Town) released the Several Measures of Beijing Economic and Technological Development Area to Promote Sustainable Economic Recovery and Improvement (hereinafter referred to as Measures) on Jan 14.

The Measures have introduced 10 specific actions focusing on consolidating and expanding industrial development advantages, supporting the development of the service industry and construction industry, unleashing domestic demand potential to promote consumption, and increasing support for enterprise cultivation.

The maximum financial support is up to 20 million yuan ($2.73 million).

This year, the Measures further expand the scope of supports. In addition to the existing industries such as industrial, wholesale and retail, information technology, technology, leasing, and construction, it now includes three additional industries of finance, transportation, and cultural and entertainment industries. This expansion aims to continuously improve the industrial structure. In terms of special supports, a new policy has been added to encourage enterprises to increase research and development investment, providing better support for technological innovation within companies.

The Measures will provide a certain proportion of support to industrial enterprises that maintain positive growth in output value in the first quarter, based on the incremental part of the first-quarter output value, with a maximum support of 10 million yuan.

Meanwhile, it will also provide a certain proportion of support based on the incremental part of the annual output value to industrial enterprises that maintain relatively fast growth throughout the year, with a maximum annual support of 20 million yuan.

In supporting the development of the service industry, the Measures will provide incentives for enterprises in the information service industry, technology service industry, leasing and business service industry, modern logistics industry, and the science and culture integration industry that maintain growth in operating income, based on the incremental part of quarterly and annual operating income, but it also offer a certain proportion of rewards. Additionally, for newly added enterprises in various fields of the productive service industry this year, it will provide a one-time bonus to enterprises with high annual growth rates in operating income that reach a certain scale.

Beijing E-Town continues to advance the construction of the international consumer experience demonstration zone, enhancing the role of consumption in promoting economic development. It will provide support to wholesale and retail enterprises that maintain rapid growth in sales in the first quarter and throughout the year, based on the incremental part of quarterly and annual sales. In terms of increasing efforts to foster enterprises, E-Town will support enterprise development by encouraging companies to expand and standardize, lowering corporate financing costs, increasing support for research and development investment, and promoting the transformation of scientific and technological achievements. These measures aim to provide strong support for the development of enterprises.