Shenzhen will offer up to 30 million yuan (US$4.21 million) in subsidies to support the development of the low-carbon industry in eight areas, according to a notice released by Shenzhen Municipal Development and Reform Commission recently.
The eight aspects include new-energy automobiles, advanced nuclear power, high-efficiency power storage, recyclable energy, intelligent energy, high-efficiency energy saving, advanced environmental protection and resources recycling.
The low-carbon industry is one of Shenzhen’s seven strategic industries. The subsidy program covers the improvement of city-level engineering research centers, post-project subsidies and subsidies for support projects of national and provincial programs.
The subsidy for the city-level engineering research centers will be granted at 40 percent of the total investment with a cap at 5 million yuan.
For the post-project subsidies, the government will offer a subsidy at 20 percent of the total investment after the project passes inspections and assessments. This subsidy is capped at 15 million yuan.
The subsidies for the support projects of national and provincial research programs will be granted at 40 percent of the total investment and capped at 30 million yuan.
The subsidy programs are for all enterprises and institutions in the city engaging in research, production and services in the low-carbon industry.