Guizhou plans to cultivate major industrial enterprises

Southwest China's Guizhou province recently released an implementation blueprint for developing more major industrial enterprises in the region from 2021 to 2025.

Projections are that by 2025, Guizhou will add five industrial enterprises that will generate 100 billion yuan ($15.44 billion) of annual revenue each. Guizhou will also help attract and develop 10 enterprises with annual sales of 50 billion yuan, 20 enterprises with revenue of 10 billion yuan and 100 smaller enterprises with yearly revenue of 1 billion yuan.

From 2021 to 2025, Guizhou aims to have more than 1,000 small and medium-sized enterprises recognized as provincial specialized and innovative enterprises, and add more than 700 companies above a designated size – those with annual sales of 20 million yuan or more – each year.

For enterprises that achieve business revenue of 100 billion yuan, 50 billion yuan, 10 billion yuan and 1 billion yuan for the first time, Guizhou will offer a one-time bonus of 5 million yuan, 4 million yuan, 3 million yuan and 2 million yuan, respectively.

Guizhou is reportedly encouraging its resident enterprises to apply the industrial internet, to evaluate their data management capabilities and boost their digital transformation, and the province is supporting enterprises to invest in major industries.

Projects applied for by companies above an investment level of 10 billion yuan will receive preferential support from a new provincial industrialization fund, a special provincial fund for industry and information technology and a special provincial fund for energy structural adjustment.