context: While Made in China 2025 is no longer mentioned by state media, new subsidy schemes continue to support manufacturing sectors strategic to the state. This is now especially relevant as import substitution becomes highly prioritised.
More than C¥10 bn in subsidies will be offered to highly specialised manufacturing SMEs and public service platforms in the next five years, says a 3 February Notice from MoF (Ministry of Finance). The scheme will support
- about 1,000 national 'little giants' already recognised by MIIT (Ministry of Industry and IT) and MoF (excluding those who are listed on stock markets domestically or internationally), who should
- ramp up innovation investment related to strategies of
- 'industrial foundation'
- 'manufacturing powerhouse'
- work with industry leaders and across the value chain
- promote digital, network and intelligent transformation
- promote branding
- accelerate stock market listing
- improve international collaboration
- ramp up innovation investment related to strategies of
- no more than nine SME public service platforms in each province, who should use the subsidies to foster 10,000 'little giants'
Provincial authorities are expected to submit their nominations in three batches (March 2021, July 2021 and July 2022). Subsidies are only offered to SMEs passing annual evaluations.