Recently, Shandong released a number of policies on the high-quality development of the real economy. 45 measures were introduced from eight aspects comprising cost decreasing and benefit increasing, innovation and entrepreneurship, industrial upgrading, investment promotion, talent recruiting, financial support, land supply, and institutional guarantee. The policies are aimed at resolving the critical issues existing in the development of real economy, accelerate the transition from the old driving forces of development to the new, and promote the high-quality development of the real economy.
COST DECREASING AND BENEFIT INCREASING
Policies have been made to lower the standard of tax on using urban land, the burden of stamp tax, the energy cost of enterprise and social security premium rate.
For the strategic new industries and key industries for the shift of development driving forces, the priority will be given to tax rebate for the newly added tax allowance within the limit approved by the state from January 1, 2018.
INNOVATION AND ENTREPRENEURSHIP
Shandong is to increase incentives for scientific research. From 2018, the units in charge of national key S&T projects and key research plans will be offered a maximum reward of 600,000 yuan for each project.
Shandong will reform and improve the mechanism of managing funding for scientific research projects and that of the income distribution for transformation of scientific and technological achievements. In addition, Shandong will make efforts to ensure the rights of research personnel to earnings, distribution and disposal of scientific achievements, and increase the proportion of researchers in income distribution at same time.
INDUSTRIAL UPGRADING
There are some policies for the top ten industries to ensure enough financial support. According to the regulation, the guidance fund for transformation of development drivers can be used to support the construction of related key projects by direct investment.
Great efforts will be put into basically completing the identification of key monitoring sites by the end of 2018.
INVESTMENT AND TALENT ATTRACTION
Shandong will spare no efforts in introducing investment with a maximum reward of 0.1 billion yuan. Local governments are encouraged to formulate new incentive policies within their statutory authority to attract investment.
Shandong also upholds enterprises to draw patent and talent maps and conduct navigation for intellectual property patent. From October 1, 2018, the municipal and county-level governments have granted enterprises subsidies by 50% of the actual expenses incurred, up to a maximum of 500,000 yuan.
