Yinchuan, capital of Northwest China's Ningxia Hui autonomous region, held an investment fair on April 27 with strong support for technology innovation enterprises.
Yinchuan of the Ningxia Hui autonomous region holds an investment fair for tech providers on April 27. [Photo provided to chinadaily.com.cn]
A host of preferential policies were announced during the event. Fixed-assets investors will claim a prize of one or two per mill of the total investment, if their transaction volume reaches 100 million yuan ($15.03 million) in agriculture, 500 million yuan in industrial engineering, or 300 million yuan in service sector. The maximum reward for a single project is no more than 5 million yuan.
The franchiser will provide tech start-ups with land for headquarters and facilities construction as well as funds for technological innovation. In addition, the businesses are expected to enjoy double prime of tax incentives at national and provincial level.
High-level talents who work full-time in the city are qualified for a living subsidy of 30,000 to 200,000 yuan per year and the bounty will last for at most five years. They can also receive 1 million yuan housing subsidy or an up to 220 sq m of house with joint property rights.