Guangzhou will vigorously promote the development of advanced equipment manufacturing. On December 29, officials from Guangzhou Economic and Trade Commission announced at an executive conference of the Municipal Government that they will strive to raise the output value of the city's advanced equipment manufacturing industry to more than RMB 1.1 trillion by 2017 and ensure that 60% of the industrial enterprises above the designated scale will complete a new round of technical innovation by 2017, 10 percentage points than the previously announced target of 50%.
To this end, officials will take two main steps. First, they will strengthen the role of the automotive industry as a pillar of the economy, promote the R&D, manufacturing and branding of homegrown brands, and make stronger efforts to build the R&D and localization systems for auto parts and components. And second, they accelerate the development of high value-added shipbuilding, marine engineering equipment, electromechanical integration equipment, and foster the development of intelligent industrial equipment industries as typified by industrial robots.
Officials will adopt seven measures to facilitate the development of the city as a major national hub for advanced equipment manufacturing base.
Of the measures, financial support will be the strongest. For three years on end starting in 2015, the Municipal Government will allocate special funds to help finance enterprises' technical innovation.
With regards to land supply, Guangzhou will give preference to advanced equipment manufacturing projects whose investment exceed RMB 1 billion and to high-quality technical renovation projects whose investment intensity surpass RMB 1 million per mu (1 mu equals 1/15 hectare). Efforts will also be made to raise the utilization rate of industrial land and to encourage enterprises to implement technical renovation without extra land requirement.