It was learned from the Hunan Provincial Science and Technology Department on September 23 that, 3,361 enterprises, 23 universities and colleges, and 1 research institute engaged in R&D will be subsidized in 2021. The list was made according to the requirements of provincial financial incentive programs for enterprises, universities, and research institutes R&D, after declared by the units and reviewed by various departments at all levels. The enterprises will be rewarded and supplemented with a fund of nearly 858 million yuan, universities and colleges 14.04 million yuan, and research institute 9,800 yuan.

Nine companies including Sany Automobile Manufacturing Co., Ltd., China Railway Construction Heavy Industry Corporation Co., Ltd., China Railway Urban Construction Group Co., Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd., and Sany Automobile Hoisting Machinery Co., Ltd. each will be rewarded 10 million yuan. In addition, 12 companies each are estimated to receive a bonus of more than 5 million yuan.

The “Hunan Province Supporting Enterprise Research and Development Financial Subsidy Measures” was issued to strengthen policy support for the real economy, promote the establishment of a research and development reserve fund system in enterprises in Hunan, and plan and continue to increase research and development investment. It pointed out that the subsidies are included in the provincial fiscal annual budget, and the methods of pre-filing and post-subsidy are adopted. The amount will be 10% of the actual R&D investment newly-increased by the enterprises granted with an extra tax deduction on enterprises’ R&D costs in the previous year. The maximum limit management is adopted for different types of enterprises, and the maximum limit is not accumulated. The annual subsidy for high-tech enterprises, enterprises with provincial and above R&D platforms and excellent assessments, and enterprises that are included in the scope for the first time is up to 10 million yuan.

This article is from Hunan Provincial Government www.enghunan.gov.cn. 

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn