The Zhongguancun Administrative Committee has just released the "Notice on Supporting Scientific and Technological Development Related to Epidemic Prevention and Control and Promoting Sustainable and Healthy Development of Enterprises", with 10 supporting measures.

The 10 measures are associated with project application and fund allocation.

Application for technology loan + financing lease started

Zhongguancun supports those of is enterprises that participate in the prevention and control of the epidemic or are severely affected by the epidemic by credit financing, financial leasing, bond financing, and other methods.

In terms of subsidized loans: For enterprises with income of less than 200 million yuan (inclusive) (referring to the tax return income of the year previous to financing) which conduct financing through credit loans and repay capital and interest on time, a subsidy of 40% of the actual loan interest will be given. The annual subsidy for a single company's single credit product shall not exceed 500,000 yuan.

In terms of interest subsidy for bonds: enterprises with income of less than 500 million yuan (inclusive) (referring to the tax return income of the year previous to financing) are encouraged to conduct bond financing. Enterprises that issue green bonds and repay capital and interest on time will be given a subsidy of 40% of the nominal interest. The annual interest subsidy for a single enterprise shall not exceed 1 million yuan, and the period of interest subsidies for the same bond shall not exceed 3 years.

In terms of subsidy for financial leasing: financial leasing companies are encouraged to provide financial leasing to enterprises with income of less than 200 million yuan (inclusive) (referring to the tax return income of year previous to financing). A 20% subsidy will be provided for financing expenses (including interest on lease and service fees) incurred by financial leasing. The annual subsidy for a single enterprise shall not exceed 500,000 yuan, and the period of subsidies for the same business shall not exceed 3 years.

Small and micro enterprises will get subsidies

From March 5, the Zhongguancun Administrative Committee will accept applications for R&D subsidies from small and micro sci-tech enterprises in Zhongguancun.

The policy covers Zhongguancun high-tech enterprises which were established in the last five years (from January 1, 2015 to December 31, 2019), have less than 100 employees, and had a total R & D expenditure of more than 200,000 yuan and an operating income of less than 10 million yuan in 2019.

The policy has the following highlights. The first is to advance the application time to the first quarter, and to grant R & D subsidies to enterprises as early as possible. The second is to arrange weekly online policy briefings and declaration training to get enterprises fully prepared. The third is to fully implement online declaration.

The online applications for R&D subsidies will start at 9:00 on March 5, 2020. The deadline for online registration and application is 18:00 on April 15, 2020.

Special funds for outstanding talents were paid in time

On Feb 28, the Zhongguancun Administrative Committee allocated 63.658 million yuan to enterprises with outstanding talents immediately after the municipal financial funds were released. The allocation involves 30 enterprises included in the "Zhongguancun High-end Leading Talents Introduction Project", and 212 enterprises included in the "Zhongguancun High-potential Talents Introduction Project".

In addition, the Zhongguancun Administrative Committee and the Beijing Equity Trading Center solicited corporate policies and fund demands and helped enterprises connect with banks and investment institutions, greatly reducing the adverse impact of the epidemic on the enterprises.