Circular of the General Office of Wenchang Municipal People's Government on Issuing the Several Fiscal Measures of Wenchang City for Promoting High-quality Economic Development

The people's governments of all towns, all farms, all units directly under the municipal government, all enterprises and public institutions, all people's organizations, and all central and provincial units stationed in Wenchang City:

The Several Fiscal Measures of Wenchang City for Promoting High-quality Economic Development, discussed and adopted at the 24th (Enlarged) Meeting of the Standing Committee of the 14th Municipal Party Committee and the 7th Executive Meeting of the 16th Municipal Government, are hereby issued to you for your compliance and implementation.

Wenchang Municipal People's Government

June 6, 2022

(This document is voluntarily disclosed)

Several Fiscal Measures of Wenchang City for Promoting High-quality Economic Development

The Measures are formulated in order to implement the relevant spirits of the Guiding Opinions of the Central Committee of the Communist Party of China and the State Council on Supporting Hainan's Comprehensive Deepening of Reform and Opening-up (Zhong Fa [2018] No.12), the Overall Plan for the Construction of Hainan Free Trade Port (Zhong Fa [2018] No.8) and the Circular of the General Office of the Hainan Provincial People's Government on Issuing the Several Fiscal Measures of Hainan Province for Promoting High-quality Economic Development (Qiong Fu Ban [2021] No.65), and further give play to the role of fiscal support policies and promote Wenchang City to advance all-round high-level opening-up with greater efforts at a deeper level and in wider fields, so as to promote high-quality economic development.

I. Improving Scientific and Technological Innovation Capabilities

1. Supporting the construction of R&D and design institutions

Focus on scientific and technological innovation in the fields of aerospace, rocket chain, satellite chain, data chain, and modern agriculture (modern fishery), strive to create national laboratories and national key laboratories, and adopt the method of "one case one meeting" to provide fully support.

For national key laboratories, national clinical medical research centers, national technological innovation centers, and national engineering research centers that are approved be constructed under the leadership of public institutions, a scientific research subsidy of CNY5 million will be granted per year during the construction period;

For national key laboratories, national manufacturing innovation centers, national technology innovation centers, national industrial design centers, national industrial design research institutes, and national enterprise technology centers that are approved to be constructed under the leadership of enterprises, a one-time scientific research subsidy of no more than CNY3 million will be granted; scientific research institutions in the whole system established by the state in Hainan shall be supported by adopting the method of "one case one meeting";

For branches with independent legal persons established by domestic and overseas well-known scientific research institutes and universities, a scientific research subsidy of no more than CNY3 million will be granted according to the number of R&D personnel, R&D investment, scientific research infrastructure, etc.;

For those established by industrial enterprises above the designated size and high-tech enterprises and determined as provincial R&D institutions, a subsidy being 20% of their actual investment will be granted to the extent of CNY1 million. The subsidy shall be expensed out of the fiscal funds of the province and the city (county) at ratio of 5:5. In addition, Wenchang City will grant them an additional subsidy being 10% of its original ratio to the extent of CNY500,000.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

2. Supporting the construction of professional public service platforms

For newly built (expanded) shared technologies, major innovation R&D, and industrial innovation service complexes, pilot test research bases, technology transfer and transformation service institutions, inspection and testing, industrial design, drug R&D, supply chain services, and intellectual property operation services and other professional service platforms, if their investment in software and hardware exceeds CNY5 million, a subsidy being 20% of the investment amount will be granted to the extent of CNY3 million.

For professional public service platforms that provide services to enterprises and public institutions (with no investment relationship with them), if the annual service amount reaches more than CNY3 million, rewards being 3% of the annual service amount will be granted to the extent of CNY3 million.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

3. Encouraging enterprises to increase investment in R&D and design

Support enterprises to set up R&D institutions, increase R&D investment, and encourage the inclusion of R&D investment in statistics. For enterprises above the designated size that have established internal R&D institutions, a reward ranging from CNY30,000 to CNY300,000 will be granted according to the increment of annual internal R&D funds.

For industrial high-tech enterprises above the designated size and other high-tech enterprises, a subsidy being 10% of the increment of annual R&D funds will be granted to the extent of CNY500,000 and CNY300,000, respectively.

For design companies or design organizations affiliated to enterprises that have won the iF Design Gold Award or the Red Dot Award: Best of the Best, a reward will be granted at CNY100,000 for each award. For those that have won national design awards, a reward of CNY50,000 will be granted for each award. Universities and scientific research institutes are encouraged to open scientific research infrastructure and scientific research instrument and equipment to small and medium-sized enterprises in a non-profit making manner.

For units that provide and use shared instrument and equipment, a subsidy being 10% to 20% of the usage fee will be granted to the extent of CNY1 million.

For enterprises and scientific research institutions being legal person entities that undertake national science and technology program projects, scientific research platforms and scientific facilities supported by the state, a reward shall be granted at 50% of the supporting funds provided by the province.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

4. Supporting the R&D and manufacturing of key technologies for the first set of major technical equipment in the advanced manufacturing industry

After the acceptance of the demonstration pilot project of R&D and manufacturing of key technologies for the first set of product by enterprises that actually carry out R&D and manufacturing in Wenchang City, a reward being 10% of the total project investment will be granted to the extent of CNY3 million.

After the first set of product is sold, a reward being 10% of the contract value will be granted for the complete set of equipment, single equipment, assembly or core components to the extent of CNY1 million, CNY600,000, and CNY300,000 respectively;

For the insurance purchased for the first set of product, a subsidy being 10% of the actual annual premium shall be granted to the extent of CNY1 million on the basis that the actual premium rate is no more than 3% (sales reward and premium subsidy shall not be enjoyed at the same time).

For the mass production and capacity expansion project in respect of the first set of product, an interest discount being 30% of the loan market quotation rate (LPR) will be granted to the extent of CNY3 million for the bank loans for fixed asset investment.

For those that enjoy the "zero tariff" policy for raw and auxiliary materials or "zero tariff" and processing VAT policy for self-use production equipment, an additional reward being 5% of the contract value will be granted to the extent of CNY100,000.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

5.Encouraging technological innovation and achievement transformation of enterprises

Effectively give play to the role of the provincial scientific and technological achievement transformation fund. For physical projects in our city that have been included into the national high-precision cutting-edge manufacturing power plan such as the Strong Industrial Foundation Program or into the equipment pre-research shared technology projects and field fund projects, are in line with the national ocean power strategy or involve R&D of aerospace breeding and successfully implement achievement transformation, a reward being 10% of the amount of investment in fixed assets will be granted to the extent of CNY1.5 million.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

6. Continuing to support biomedical R&D

Continue to implement the policy of biomedical R&D coupons. For pharmaceutical companies, universities, scientific research institutions, and scientific research service institutions in our city that carry out R&D innovation and achievement transformation of drugs, medical devices, and biological products, a reward or subsidy ranging from CNY200,000 to CNY5 million will be granted in light of the R&D and industrialization achievement.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

II. Cultivating and Expanding Market Players

7. Supporting the program of cultivating specialized, sophisticated, distinctive and innovative enterprises

Establish a bank of specialized, sophisticated, distinctive and innovative enterprises to be cultivated, and implement dynamic management thereof. Organize the "Eyas Action" to carry out matching diagnosis and support for the transformation and upgrading of small and medium-sized enterprises. For enterprises in our city that are evaluated as provincial specialized, sophisticated, distinctive or innovative enterprises, a one-time reward of CNY200,000 will be granted. For those that are re-evaluated as provincial specialized, sophisticated, distinctive or innovative enterprises again after three years, a reward of CNY10 will be granted in respect of each re-evaluation.

For enterprises in our city that are evaluated as national specialized, sophisticated, distinctive or innovative small giant enterprises, a one-time reward of CNY600,000 will be granted. Provide precise services to "quasi-champions" enterprises that have mastered core technologies and enjoyed high market share, create national "single champion" enterprises in the manufacturing industry, and reward CNY3 million for national "single champion" enterprises in the manufacturing industry.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

8.Providing incentives to speed up the upgrading of small and micro enterprises into enterprises above the designated size and the inclusion into statistics of enterprises of a designated size

Support the establishment of a cultivation bank of small and micro enterprises to be upgraded into enterprises above the designated size, and implement dynamic management thereof. Support enterprises in our city to carry out the growth action of upgrading small and micro enterprises into enterprises above the designated size. For those that are upgraded into enterprises above the designated size for the first time and included in the networked direct reporting by the statistics department, their management teams will be rewarded with CNY500,000. If they are still enterprises above the designated size throughout three years, their management teams will be further rewarded with CNY80,000.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

9. Supporting the implementation of the "multiplication plan" and "elite plan" for high-tech enterprises

Enhance the cultivation and introduction of high-tech enterprises. For those included in the provincial high-tech enterprise cultivation bank, a subsidy being 10% of the increment of annual R&D funds will be granted to the extent of CNY300,000.

For high-tech enterprises that move into our city as a whole, a reward being 5% of the fixed asset investment amount or 10% of the R&D investment amount after they complete the registration of movement will be granted to the extent of CNY2 million.

Implement the elite plan for high-tech enterprise and support high-tech enterprises to improve their quality and grow rapidly. Set up the cultivation banks of seed enterprises, gazelle enterprises, and leading enterprise, and implement dynamic management thereof. If the actual R&D investment of enterprises included in the banks exceeds 3% of their sales revenue, a subsidy being 10% of the excess will be granted to the extent of CNY1 million, CNY2 million, and CNY5 million respectively.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

10.Incenting output value or operating income of enterprises to grow rapidly to the designated amount

From 2022, for industrial enterprises above the designated size in our city whose annual output value or operating income exceeds CNY60 million, CNY100 million, CNY200 million, CNY300 million, CNY500 million, and CNY1 billion for the first time, a one-time reward of CNY60,000, CNY10,000, CNY200,000, CNY300,000, CNY500,000 and CNY1 million will be granted respectively. Among them, for those in the aerospace, rocket chain, satellite chain, data chain, and advanced manufacturing industries, an additional one-time reward of CNY30,000, CNY50,000, CNY100,000, CNY150,000, CNY250,000, and CNY500,000 respectively will be granted. An enterprise will be rewarded each time when its annual output value or operating income increases to the next grade and at this time, difference will be made up in respect of the reward. For industrial enterprises above the designated size in the aerospace, rocket chain, satellite chain, data chain, and advanced manufacturing industries, after their annual output value exceeds CNY60 million, CNY100 million, CNY200 million, CNY300 million, CNY500 million, and CNY1 billion for the first time, they will be rewarded at 1% of the increased annual output value to the extent of CNY300,000 if their annual output value grows by more than 20% and is not lower than the output value they break through for the first time. The reward for the first breakthrough in output value and the reward for output value growth will be implemented simultaneously.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

From 2022, for enterprises in the modern service industry (digital economy, business services) under substantive operation  whose operating income exceeds CNY100 million, CNY300 million, CNY500 million, and CNY1 billion for the first time, a one-time reward of CNY100,000, CNY300,000, and CNY500,000 and CNY1 million respectively will be granted. From 2022, for tropical characteristic high-efficiency agricultural enterprises whose operating income exceeds CNY50 million, CNY100 million, CNY150 million, and CNY200 million for the first time, a one-time reward of CNY100,000, CNY200,000, CNY300,000, and CNY500,000, respectively will be granted.

(Responsible units: Municipal Development and Reform Commission, Municipal Bureau of Agriculture and Rural Affairs)

III. Supporting the Expansion of Effective Investment

11. Supporting three leading industries, tropical characteristic high-efficiency agriculture, and industries in ten key fields

Implement the Interim Measures of Hainan Province for Supporting Enterprises to Expand Investment and Stabilize Growth (Qiong Fa Gai Gui [2021] No.9), and support enterprises in key industries to become bigger, stronger and better in the principle of matching contribution.

Continue to support the development of the headquarters economy and give full play to the leading role of the headquarters economy. For regional headquarters, comprehensive (regional) headquarters, and high-growth headquarters of multinational companies that have settled in our city, a start-up subsidy equal to the actual paid-in capital will be granted in phases in five years according to the Measures of Hainan Province for the Identification and Management of Headquarters Enterprises. For the part of paid-in capital being lower than RMB50 million (inclusive), a subsidy will be granted at a rate of 1.5%; for the part of paid-in capital being higher than CNY50 million but lower than CNY200 million (inclusive), a subsidy will be granted at a rate of 2.5%; for the part of paid-in capital being higher than CNY200 million, a subsidy will be granted at 3.5%. The maximum amount of subsidy will not exceed CNY20 million.

(Responsible units: Municipal Development and Reform Commission, Municipal Bureau of Science, Technology, Industry and Information Technology, Municipal Bureau of Tourism, Culture, Radio, Television and Sports, Municipal Bureau of Agriculture and Rural Affairs)

12. Promoting expanded investment in the advanced manufacturing industry

For enterprises in the advanced manufacturing industry whose annual amount of investment in construction and installation works exceeds CNY10 million, a reward being 3% of such investment amount will be granted to the extent of CNY10 million. For projects where annual amount of investment in construction and installation works exceed CNY500 million (inclusive), the total amount of annual rewards and subsidies for each enterprise will not exceed CNY15 million.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

13. Supporting technological transformation quality improvement of enterprises

For enterprises that meet the support directions of intelligent upgrading, cluster development, service extension, green transformation, and security management and control, if the technological upgrading and transformation investment amount exceeds CNY6 million, a subsidy being 8% of the amount of investment in equipment will be granted to the extent of CNY8 million. Strengthen the pilot demonstration role of technological transformation demonstration projects, and reward CNY1 million to enterprises that have obtained national industrial Internet pilot demonstrations, national intelligent manufacturing, service-oriented manufacturing, and green factory pilot demonstrations and reward CNY500,000 to enterprises that have been awarded provincial outstanding cases of industrial Internet applications.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

14. Supporting the development of the modern biomedical industry

Actively introduce drug and medical device manufacturers and support the development of the modern biomedical industry. Encourage enterprises to participate in the national volume-based procurement. For products winning bids for national centralized volume-based procurement of drugs and medical devices, a reward being 1% of the actual sales amount based on the bid-winning unit price will be granted to the extent of CNY1 million.

Encourage pharmaceutical companies to carry out international certification, and reward CNY1 million to drug and medical device manufacturers that have obtained international authoritative certification for each certification.

(Responsible units: Municipal Bureau of Science, Technology, Industry and Information Technology, Municipal Market Regulatory Bureau, Municipal Medical Security Bureau)

15. Supporting the high-quality development of the tourism industry

Encourage tourism enterprises to accelerate development. For tourism projects with an annual fixed asset investment amount of more than CNY20 million, a reward being 2% of the such investment amount will be granted to the extent of CNY10 million.

For enterprises that have successfully created national tourist resorts and provincial tourist resorts, a reward will be granted at CNY3 million and CNY2 million respectively. If the tourist attractions created by enterprises are newly rated as 5A, 4A and 3A, a reward will be granted to such enterprises at CNY3 million, CNY2 million and CNY1 million respectively. For enterprises that have successfully created national night culture and tourism consumption clusters, provincial night culture and tourism consumption clusters, and national leisure tourism blocks, a reward will be granted at CNY2 million, CNY1 million, and CNY500,000 respectively.

For the newly rated coconut-level rural tourism spots, those newly winning gold, silver and bronze awards in China Characteristic Tourism Commodities Competition and China Tourism Commodities Competition, newly rated five-star and four-star hotels, newly rated golden and silver guesthouses, a reward ranging from CNY250,000 to CNY50,000 will be granted.

Encourage the construction, reconstruction or expansion of water sports projects according to regulations. According to the actual social investment amount (excluding land investment or lease, labor costs, government investment, etc.), water sports projects will be rewarded after they obtain the operating qualifications, complete the sea use procedures, comply with the relevant plans, and are constructed and formally open for operation. For those whose actual social investment amount exceeds CNY20 million before the official operation (in case of reconstruction or expansion projects, before the official put-into-operation of the reconstruction or expansion projects), a one-time reward being 2% of the actual social investment amount will be granted to the extent of CNY10 million.

(Responsible unit: Municipal Bureau of Tourism, Culture, Radio, Television and Sports)

16. Supporting the high-quality development of the cultural industry

Support the high-quality development of the cultural industry. Guide and promote the high-quality development of the cultural industry, and promote the improvement of the modern cultural industry system and market system. For constructed cultural industry projects such as content creation and production, creative design services, cultural communication channels, cultural investment and operation, cultural entertainment and leisure services, cultural auxiliary production, cultural equipment production, and performing arts that have significant social benefits, a reward being 10% of the actual investment amount will be granted. The reward for a single project will not exceed CNY500,000.

For those that create literary and artistic works such as songs, dances, dramas, movies, musicals, photography, etc. based on the culture and tourism of Wenchang City, a one-time reward of CNY500,000 will be granted if such works win international awards, or a one-time reward of CNY300,000, CNY200,000, and CNY100,000 will be rewarded if such works win national gold, silver, and bronze awards (or first, second, and third prizes) respectively, or a one-time reward of CNY200,000, CNY100,000, and CNY50,000 will be rewarded if such works win provincial gold, silver, and bronze awards (or first, second, and third prizes) respectively. If multiple levels of awards are obtained at the same time, the reward will be granted according to the highest level of award. During the effective period of the Measure, whoever receives a higher-level award after applying for and receiving a reward for a lower-level award may apply for the reward difference (the difference between the reward for the higher-level award and the reward for the lower-level award), provided that the total amount of rewards actually received will not exceed the amount of reward for the highest award obtained during the effective period of the Measures.

(Responsible unit: Municipal Bureau of Tourism, Culture, Radio, Television and Sports)

17. Supporting the development of tropical characteristic high-efficiency agriculture

Grant rewards and subsidies to tropical characteristic high-efficiency agricultural projects that meet certain conditions and establish a benefit linkage mechanism that benefits farmers by centering on variety cultivation, quality improvement, and brand promotion.

For planting, livestock and poultry breeding and other agricultural product standardization and characteristic planting and breeding projects with Wenchang characteristics, a reward or subsidy being 10% of the investment amount will be granted to the extent of CNY1 million. For production-sales linkage projects such as primary processing and intensive processing of agricultural products, a reward being 4% of the investment amount will be granted to the extent of CNY1 million.

For industrial integration projects such as provincial characteristic industrial clusters, agricultural industrial parks, and rural complexes (shared farms), a reward of CNY1 million, CNY1 million, and CNY100,000 will be granted respectively.

For products registered and protected by national geographical indications of agricultural products, national organic agricultural products, national green food, and agricultural products passing good agricultural practices (GAP) certification, a reward of CNY200,000, CNY40,000, CNY30,000, and CNY10,000 per product will be granted respectively.

For the publicity and promotion of agricultural brands in national mainstream media, a subsidy being 1% of the publicity and promotion costs will be granted to the extent of CNY50,000.

(Responsible unit: Municipal Bureau of Agriculture and Rural Affairs)

18. Supporting the development of logistics enterprises

For logistics enterprises investing more than CNY5 million to build logistics information platforms, a subsidy being 3% of the investment amount will be granted to the extent of CNY300,000;

For logistics companies investing more than CNY5 million in total to construct cold storage (of 10,000 cubic meters or above) or purchase refrigeration equipment or refrigerated vehicles, a subsidy being 3% of the investment amount will be granted to the extent of CNY300,000;

A one-time reward of CNY100,000 will be granted to those rated as provincial demonstration logistics parks; an additional one-time reward of CNY100,000 will be granted to those rated as national demonstration logistics parks;

A subsidy of CNY200,000 will be granted to postal and express delivery companies investing more than CNY100 million to build express distribution centers, operation centers, and data processing centers;

For postal and express delivery companies that invest more than CNY3 million to purchase intelligent express delivery sorting equipment, a subsidy being 5% of the purchase amount will be granted to the extent of CNY100,000;

For postal and express companies that use more than 150,000 recyclable packaging boxes, a reward of CNY0.1 per box will be granted based on the cumulative usage. For postal and express companies that purchase more than 200,000 degradable green packaging bags that meet the relevant national standards, a reward of CNY0.1 per bag will be granted based on the cumulative purchase volume. The maximum reward for each enterprise will not exceed CNY10,000;

Support the construction of the "Two In and One Out" project, and provide CNY200,000 per year to support postal and express companies to carry out such business as express delivery into villages, express delivery into the factories, and express delivery out to sea.

(Responsible unit: Municipal Development and Reform Commission)

19. Reducing industrial land use costs

For projects in the tourism industry, Internet industry, medical and health industry, modern financial service industry, convention and exhibition industry, modern logistics industry, marine industry (oil and gas industry), biomedical industry, low-carbon manufacturing industry, high-tech industry, education industry, cultural and sports industry, and tropical characteristic high-efficiency agriculture as specified by the competent industrial departments, the benchmark land price may be determined according to the Table of Adjustment Coefficient of Benchmark Price of Land Used for Industrial Projects in the current benchmark land price results.

(Responsible unit: Municipal Bureau of Natural Resources and Planning)

20. Encouraging the utilization of foreign capital

A reward of CNY10,000 will be granted to a project entity every time when the project uses foreign capital of USD1 million. The cumulative amount of rewards for a project entity will not exceed CNY500,000. (Responsible unit: Municipal Development and Reform Commission)

IV. Increasing Financing Support

21. Supporting the establishment of a corporate financing service mechanism

Establish a financing service mechanism under which the government, financial institutions, and enterprises are linked, carry out government-guaranteed loan business in Wenchang city, and provide services such as financing information connection and policy implementation.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

22. Enhancing financing guarantee capability

Gradually increase the government credit enhancement and risk compensation funds for government-guaranteed loans in Wenchang City according to demand. For micro, small, medium-sized enterprises in our city that raise funds through government-guaranteed loans, a loan interest discount subsidy being 1% of the loan amount will be granted to the extent of CNY200,000.

(Responsible unit: Municipal Bureau of Science, Technology, Industry and Information Technology)

23. Giving play to the guiding role of government investment funds and equity investment

In order to give full play to the leverage role of government investment funds, support the development of the tourism industry, the modern service industry, the high-tech industry, and the tropical characteristic high-efficiency agriculture and parks, build industrial investment funds, and actively strive to include them in the sub-funds of Hainan Free Trade Port Construction Investment Fund. Implement the equity investment policy for special fiscal funds to improve the market-oriented operation of equity investment.

(Responsible unit: Municipal Finance Bureau)

24. Supporting direct financing of enterprises in the capital market

A one-time reward of CNY3 million will be granted to an enterprise with substantive operation in Wenchang City if its application for listing is approved or registered by the China Securities Regulatory Commission and it successfully offers shares on the stock exchange. A one-time reward of CNY200,000 will be granted if the enterprise is listed on the National Equities Exchange and Quotations. A one-time reward of CNY100,000 will be granted if the enterprise is listed on the trading board of the regional equity trading center in the province. If the enterprise that successfully raise funds through the issuance of corporate bonds, enterprise bonds, medium-term notes and other direct financing instruments, a reward being 1‰ of the financing amount will be granted to the extent of CNY1 million.

(Responsible unit: Municipal Finance Office)

V. Optimizing the Environment for Enterprise Development

25. Improving the innovation and service level of parks

A one-time R&D fund support of up to CNY10 million will be granted to newly approved national high-tech development zones. According to the Dynamic Adjustment Mechanism for Industrial Parks in Hainan Province (for Trial Implementation) (Qiong Fa Gai Chan Ye [2021] No.406), industrial parks will be evaluated. CNY10 million will be rewarded for the industrial parks that are evaluated as excellent, and CNY5 million will be rewarded for those that are evaluated as good.

(Responsible unit: Municipal Development and Reform Commission)

26. Supporting Enterprises to Develop Markets

Support foreign trade enterprises to participate in overseas trade exhibitions. On the basis of the special fund policy subsidy granted by the Provincial Department of Commerce for foreign economic and trade development, a subsidy will be granted at 7% of the costs of the participated or held exhibition projects. The maximum amount of subsidy for a single project will not exceed CNY100,000.

For enterprises participating in domestic national exhibitions, a subsidy being 50% of the exhibition participation costs will be granted to the extent of CNY30,000;

For domestic national exhibitions held in our city with more than 200 participators from not less than 10 provinces, the exhibition organizers will report to the competent departments for examination in concert with the Municipal Finance Bureau before reporting to the municipal government for approval, and the specific subsidy amount will be determined in the principle of "one case one meeting" to the extent of CNY500,000;

For international exhibitions held in our city with more than 100 participators from not less than five countries and regions, the exhibition organizers will report to the competent departments for examination in concert with the Municipal Finance Bureau before reporting to the municipal government for approval, and the specific subsidy amount will be determined in the principle of "one case one meeting" to the extent of CNY1 million.

(Responsible unit: Municipal Development and Reform Commission)

VI. Management Measures

The Measures will be interpreted by the Municipal Finance Bureau, the Municipal Development and Reform Commission and relevant competent industrial departments. The relevant competent industrial departments will formulate implementing rules in consultation with the Municipal Finance Bureau to clarify the fund application and review procedures and the performance management and supervision duties. All applications will be uniformly accepted by the Municipal Investment Attraction and Investment Promotion Service Center which will preliminarily review the completeness of materials, and then hand the materials over to the parks and competent industrial departments to handle specific matters and grant rewards and subsidies.

The Municipal Finance Bureau will formulate the measures of our city for the administration of funds for promoting high-quality economic development.

The Municipal Audit Bureau will audit and supervise the implementation of the Measures and the authenticity, legality and effectiveness of financial fund arrangements and use.

Applicants shall be responsible for the authenticity, legality, and compliance of the fund application materials. Those that defraud or use financial funds in violation of regulations shall be dealt with and punished in accordance with relevant laws and regulations such as the Regulations on Punishment and Sanctions for Financial Illegalities. Where the relevant competent industrial departments, financial departments, and their functionaries have illegal acts such as abuse of power for personal gain, misuse of authority, dereliction of duty, and engagement in any malpractice for personal gains, they shall be held accountable in accordance with the relevant national provisions such as the Budget Law of the People's Republic of China, the Civil Servant Law of the People's Republic of China, the Law of the People's Republic of China on Supervision, the State Secrets Law of the People's Republic of China and the Regulations on the Punishment and Sanction for Financial Illegalities, and shall be criminally prosecuted if a crime is constituted.

The subsidies or rewards specified in the Measures may be enjoyed in addition to those specified in provincial financial measures. If a subsidy or reward is specified in both the Measures and the special policies of Wenchang City or Wenchang International Aerospace City, it shall be enjoyed at the higher amount. No subsidy or reward shall be enjoyed repeatedly.

The Measures will come into force as of July 6, 2022 and remain valid until December 31, 2025.