Foshan beefs up subsidies to transit to smart manufacturing

Foshan city, in South China’s Guangdong province, released multiple measures on Tuesday to ramp up its support for the digital and smart transformation of local manufacturers.

Manufacturers will receive a subsidy worth 10 percent of their fixed asset investment in technological upgrades, including digital equipment and its supporting equipment, digital systems, and industrial control software. For manufacturing enterprises above designated size, the top subsidy goes up to 100 million yuan ($15.41 million).

Factories and projects that are certified by the government as demonstrations in digital and smart development will be rewarded up to 20 million yuan as a one-off.

The measures will be implemented from Aug 24, and will be valid until Aug 23, 2024.