Recently, Hunan Provincial Department of Industry and Information Technology and Hunan Provincial Department of Finance issued subsidies for technical transformation of industrial enterprises in Hunan Province in 2020. A total of 63 enterprises in Ningxiang City got subsidies of 23.559 million yuan, with the number of honor enterprises and the subsidy amount both ranking first in the province.

A total of 113 enterprises in Ningxiang have got the subsidies over the four years, amounting to 70.6792 million yuan.

“The subsidies are indeed a godsend for small and medium-sized enterprises,” said the head of finance department of Sinoboom when receiving more than 3 million yuan of subsidies from the Municipal Bureau of Industry and Information Technology.

The subsidy is a special fund arranged by the provincial financial budget to award industrial enterprises that invest in fixed assets for technological transformation.

This year, a total of 811 enterprises in the province obtained this subsidy, including 63 enterprises in Ningxiang, which fully showed the strong momentum of high-quality development of industrial enterprises in Ningxiang.

“building a powerful industrial city”, and has issued a series of policies and measures to achieve this goal. For example, ten measures to help relieve the burden on enterprises and improve efficiency were issued, including providing targeted assistance services for industrial enterprises, and providing funds to support their development.