Reward policy for equipment replacement at rare earth new materials enterprises implemented in Rare Earth Hi-tech Zone
2017-06-30 17:26:00 [Print]
The Rare Earth Hi-tech Zone recently issued the Interim Measures for Supporting Advanced Equipment Replacement at Rare Earth New Materials Enterprises (“the reward policy”) for giving financial support to rare earth new materials enterprises and post processing companies that made advanced equipment replacement from January 1st, 2016 to December 31st, 2017. According to the reward policy, the financial support includes 20% of the total amount of the invoice (Pre-tax) for enterprises that made equipment replacement, and 3% of total rare earth funds included in total amount of invoice (Pre-tax) for enterprises that made equipment replacement using Baotou Rare Earth Industrial Transformation and Upgrading Investment Fund. The financial support will derive from Baotou rare earth industry transformation and upgrading funds and financial funds of Rare Earth Hi-tech Zone.
The implementation of this reward policy will effectively promote the improvement the production process and the development of new technology and high-end products; at the same time, it will also speed up the innovation capacity building, enhance competitiveness and accelerate the achievement transformation of projects. Up to now, the first patch of 14 rare earth new materials enterprises has declared, including Baotou Steel Rare Earth Magnetic Material Co., Ltd., Baotou Jinshan Magnetic Material Co., Ltd. and Baotou INST Magnetic New Materials Co., Ltd., etc.
The implementation of this reward policy will effectively promote the improvement the production process and the development of new technology and high-end products; at the same time, it will also speed up the innovation capacity building, enhance competitiveness and accelerate the achievement transformation of projects. Up to now, the first patch of 14 rare earth new materials enterprises has declared, including Baotou Steel Rare Earth Magnetic Material Co., Ltd., Baotou Jinshan Magnetic Material Co., Ltd. and Baotou INST Magnetic New Materials Co., Ltd., etc.
