ANNOUNCEMENT 20 Dec 2018

December 20th, 2018 - A Chinese ministry announced the official details on the implementation of a financial support policy.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

PRC State Council, December 20th, 2018. (国科发重〔2018〕315号 科技部 发展改革委 财政部关于印发《进一步深化管理改革激发创新活力确保完成国家科技重大专项既定目标的十项措施》的通知)
http://www.gov.cn/gongbao/content/2019/content_5383799.htm

Inception date: 20 Dec 2018 | Removal date: open ended

Financial grant

On December 20th, 2018, the Chinese Ministry of Science and Technology released implementation details of a State Council policy (see related act; hereafter referred to as 'parent policy') in Guoke Fazhong 2018/315 (hereafter, 'Announcement').

As well as confirming that the 'proportion of projects targeted for [government] support' will be increased, the Announcement confirmed the implementation of the parent policy, including the subsidy structure proposed therein, which was the following:

  • Max. 20% of research/business expenses can be covered by subsidies;
  • Subsidies of less than USD 747,000 (CNY 5m) to account for no more than 30% of total subsidy disbursements;
  • Subsidies of between USD 747,000 to 1.49m (CNY 5m to 10m) no more than 25%;
  • Subsidies of over USD 1.49m (CNY 10m) no more than 20%.

As per the parent policy, the funding is targeted towards science/technology research projects deemed of merit by the authorities. This Announcement, however, only specifies that this funding will be targeted towards 'knowledge-heavy, equipment-light' projects.

Several regional announcements further elaborated on this, please see related acts for more information on these.

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