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Measures of providing Wuhua Technology Park Key Enterprise Supportive Fund

In order to implement Decisions of the Part Committee and Government of Wuhua District in Promoting Development of High- and New-Tech Industries, speed up the application of technology and improve the scale and industrialization of high- and new-tech projects in Wuhua Technology Park (WTP) of Kunming Kunming High- and New-tech Industrial Development Zone, and carry out the strategy of “ technologically develop the district”, we design this measure in accordance with Management of three Technology Fund in Wuhua District. For key enterprises whose productions are in agreement with the industrial guidance of Wuhua Technology Park, basing on their actual conditions, we provide them with five kinds of support, which are discount loan interest, seed fund, matching fund, rent subsidy, capital instilment.

Ⅰ. Supportive measures

1.Discount loan interest

Projects that can apply for this support should meet the following requirements: its development has achieved certain level, scale and benefits; it has relatively definite sources of self-financing; it has received the loan from banks; its investment structure is rational; it’s project should be carried out within not more than three years. The discount is from 50 percent to 100 percent of its yearly loan interest, with the total amount not exceeding 300,000 Yuan. A few significant projects can receive as much as 500,000 yuans.

2. Seed fund

This measure is applicable to Technological enterprises whose technological innovation is in the stages of research, development and preliminary application. It is also applicable to enterprises established by people who want to put their own research result into actual application. The fund will be provided with no loan interest, with the total amount not exceeding 300,000 Yuans. A few extremely significant projects can receive as much as 500,000 yuans.

3. Matching fund

This measure is applicable to enterprises whose industrial projects have been granted unconditional subsidy by relevant departments of the state, the provincial or city government. The fund will be disbursed according to the project’s prospect, scale, and benefit, and also in proportion with the subsidy the enterprise has already received. The highest proportion of the matching fund is 120 percent.

4. Rent subsidy

This measure is applicable to enterprises whose yearly tax payment exceeds 100,000 Yuan. This measure is also applicable to enterprises in the stages of research, development and experimental stage, whose production are within the fields to be supported by Wuhua Technology Park, as well as other enterprises the committee of Wuhua Technology Park deemed necessary for support . We will provide a subsidy for the operational houses these enterprises have rented. The subsidy will be given for a period of one year, in proportion with the tax they pay to the district treasury.

5. Capital instilment

This measure is applicable to projects that are developed from advanced technology, with extensive application, original innovativeness, potential for further innovation, a good prospect of future market demand, and of great promise to become new industries. The instilled capital is meant to guide other investment, the amount of which will not exceed 20 percent of the enterprise’s registration capital. The instilled capital, in principle, can be transferred through legal process. It can also be recouped within certain period in accordance with a legal process. Detailed methods of this measure will be further noticed.

Ⅱ.Eligible enterprises and the conditions

Eligible enterprises

(1) These support are provided to enterprises whose project are related to technology innovation and technology application, in the stage of research and development or the experimental stage. The support will also be extended to enterprises whose project involves advanced domestic technology, with competitive edge in the market, good economy and social benefit. However, the eligible should be enterprises whose local tax payment is within Wuhua Technology Park, and projects are in accordance with the industrial guidance of WuHua Technology Park.

(2) Priority of the reward will be given to enterprises that have evaluated as high- and new-tech enterprises, or as “Shuang Ruan” enterprises (enterprises that have obtained the certificates for software producers and products), and also to backbone enterprises of technologically progressive type.

(3) The following projects will not be granted the support: Projects that are not in accordance with the industrial guidance of the park; Projects whose technology are introduced without assimilation; Redundant projects of low technology level; Projects of ordinary processing; Projects harmful to social environment; Projects with ambiguous intellectual property right; Projects with confusing claims of ownership.

2.The conditions

Enterprises applying for these supports should fulfill the following conditions:

(1) Limited cooperation that have independent legal personality and paid their local tax to Wuhua district. Agencies or branches set up by enterprises deemed by Wuhua Technology Park as domestically or internationally famous.

(2) The enterprises hold good business performance, and their asset-liability ration is below 70 percent. Enterprises that have been in operation for not more than a year are not restricted by this criterion.

(3) The enterprises’ team of leadership is competent in market promotion, business management and innovation.

(4) The enterprises have clear ownership, well-structured financial management system and internal management system.

Ⅲ. Application for the subsidy and management of the application

1. Materials required for the application.

(1) Application for Wuhua Technology Park Supportive Fund.

(2) Enterprises applying for supportive fund are required to submit a project feasibility study report, as well as evaluation comments of relevant organizations and experts. Names of the experts should be attached.

(3) Its legal person’s business license, its tax registration book, and its previous year’s tax payment records (copy).

(4) The accounting statement of the previous year and the last month of the enterprise (copies), including its balance sheet, income account, statement of cash flow, and explanatory notes. New enterprises whose business time is within a year should submit their asset examination report(copies) and the last month’s accounting statement.

(5) Certificate of intellectual right concerning project being applied (copy).

(6) Certificates related to the quality and status of the enterprise (copy).

(7) For projects applying for discount interest, behind relevant titles on the application paper, comments concerning whether or not the loan can be approved should be written both by the credit department of the enterprise’s bank of deposit and by banks of loan examining and approval. Copies of the loan contract should also be attached.

(8)Enterprises applying for matching fund should produce certifications that relevant departments of the state, province or city have disbursed the subsidy. (Copies of the certification)

(9) Enterprises applying for rent subside should produce house use permit, and house rent contract, which should have been notarized by a notary organ.

The application materials should be printed on A4 paper. Each should have three copies. All the materials will not be returned. The materials should be true and reliable. If any intentional fault is found, the enterprise’s application will not be further considered. In principle, an enterprise can apply for one project support each year, and the supportive measure can only be given to an enterprise once for all.

Procedures of the application

(1) Application can be processed throughout the year. The enterprise should submit the application materials to the administration committee of the technology park. The committee will preview the materials. If they found the project is not up to the requirements, they will send a paper notification of “Notice of Your application being Declined” to the enterprise within 15 days from the day the application was received.

(2) As to enterprises and projects that are considered qualified, approval procedures will be conducted in accordance with levels of responsibility: For supportive fund below 200,000 Yuan (including 200,000 Yuan) will be approved by the administration committee of Wuhua Technology Park, and the approval will be submitted to deputy district head for reviewing. For Supportive fund that are between 200,000 Yuan and 500,000 Yuan(including 500,000 Yuan), the administration committee will submit its opinion to the deputy district head for approval. For supportive fund above 500,000 Yuan, the administration committee will submit its opinion for the deputy district head for previewing; the final decision of approval will be made in the affair-settling meeting of Wuhua district government.

(3) If the proposals are approved, the administration committee of the technology park and the concerned enterprise will sign a contract concerning the supportive fund. Then the administration committee will conduct the procedures for providing the fund. The fund will be disbursed in steps according to the conditions of the enterprise and the project.

(4) Within a month after the supportive fund contract expires, the enterprise responsible should submit a project check and acceptance report to the administration committee for approval. If the project is approved as being virtually completed, the remaining 30% of the fund will be disbursed. If the project remains far from fulfilling the targets of the contract, it will not be approved, and the supportive fund will be suspended, and a deadline for its final completion will be issued.

3. Management of the subsidy

(1) The subsidy is managed under the leadership of a deputy district head. The administration committee of Wuhua Technology Park is responsible for the routine management of this subsidy. It major responsibilities are as follows:

A. Investigate to which fields and sphere of industry the priority of the annul subsidy should be attached.

B. Work out annual financial budget of the subsidy, and propose projects that should receive the annual subsidy.

C. Responsible for the actual management of the fund: Sign contracts with approved enterprises concerning the use of the subsidy; Track the development of the project; conduct stage examination; Evaluate completed project for acceptance; Report regularly on the use of the subsidy.

(2) The administration committee is responsible to set up an expert consultants committee, which is loosely composed by experts in the field of technology, economy and management, and some entrepreneurs as well. The expert committee is to provide guidance on the priority and management of the annual subsidy.

(3) The administration committee, together with other “gui kou” departments (literally, "belonging to a channel”, according to which some of the handicraft cooperatives producing similar or related products were placed under the administration of a city bureau), supervises and examines the approval and implementation of the projects, use of the subsidy, implementation of the contracts, quality of completed projects and statistics of the projects.

(4) The enterprises that have received the subsidy should consciously put themselves under the supervision of the management of Wuhua Technology Park, carrying out their projects in accordance with these measures and relevant provisions in the contracts concerning the subsidy. Every season, they should submit written report to the administration committee on the use the subsidy. The administration committee will regularly report to district government on the use of the subsidy.

Ⅳ. Supplementary provisions:

1. These measures are applicable to all the high- and new-tech enterprises that paid their tax to Wuhua district.

2. Implementation of these measures starts from the day they are published, expires on Dec 31,2004.

3. The administration committee of Wuhua Technology Park reserves the right of interpreting and amending these measures.