NANSHAN District on Friday rolled out a series of measures to bolster private economy, becoming the first among all districts and new areas in the city to launch related incentives, the Shenzhen Economic Daily reported Saturday.

The measures mainly focus on six aspects, including alleviating enterprises’ difficulties with financing, supporting business development, supporting companies to enhance innovation ability, expanding industrial development space, supporting talent introduction and cultivation, and as optimizing public services for enterprises.

The district has put forward six specific measures to help alleviate private firms’ difficulties with financing, such as setting up a 4-billion-yuan (US$582 million) fund to help ease liquidity risks for publicly traded firms that have pledged shares as collateral for loans.

The district will also grant subsidies of no more than 1 million yuan to private companies in terms of financing leases and factoring financing.

To encourage small and micro industrial enterprises to grow into enterprises above a designated size, the district will grant rewards of 100,000 to 500,000 yuan to each enterprise that qualifies.

Nanshan also aims to lower the threshold for enterprises to receive R&D investment. The supported enterprises will be divided into two levels according to their last year’s revenues.

The threshold will be lowered from 1.5 billion yuan to 1 billion yuan. Meanwhile, the proportion threshold of R&D expenditure in a company’s revenue for each level of enterprises will be lowered by 1 percentage point on the original basis.

In order to expand space for industrial development, the district will add 1 million square meters for industrial use in the next three years.

(Zhang Yu)