IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: No inception date

Financial grant

Included in the December 2018 'Opinions on Accelerating the Development of Private Firms' from the Fujian provincial government were details of various financial support measures that would be made available to private firms.

Specifically:

  • Land use rights purchase reduced to 70% of standard price;
  • USD 2.17bn (CNY 15bn) in 'bailout funds';
  • USD 290m (CNY 2bn) in 'bailout loans';
  • USD 1.44bn (CNY 10bn) of funds to help private firms 'cross the bridge', i.e. solve short term debt repayment problems;
  • USD 72,400 (CNY 500k) one off prizes for newly identified 'business technology hubs' and R&D institutions;
  • USD 434,000 (CNY 3m) subsidy to fund M&A loans.

Various other less concrete instruments are mentioned (e.g. 'reduce electricity prices for private firms'), but due to the lack of detailed information, these are not included here. Please see the original announcement for full details.

Only Chinese privately-run firms are eligible for the measures included in the document.

Due to the lack of sectoral focus, this is classified as a horizontal measure.

AFFECTED COUNTRIES

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