MIIT offers financial support to 25 key tasks

The Industry and Information Technology has issued a file, asking the localities to report key programs for industrial transformation and upgrade 2017 (made-in-China 2025).

According to the document, MIIT will offer financial support for 25 key tasks from four aspects.

In the sector manufacturing innovation center capacity building, MIIT will support no more than three programs, with financial support no more than 50% of the total investment, and the amount no more than 300 million yuan for single program.

In the sector of industrial control system information security solutions for typical industries, MIIT will give priority to mature typical industries with urgent demand and strong driving forces, such as the chemical and auto industries. The financial support will not excess 30% of the total investment, and the amount will not excess 50 million for single program, with up to one program to be supported.

The authority will select the programs by assessment and tender.

According to MIIT, it in principle only support sectors that cannot be solved by the market and indeed need the support from the government. Programs that have received central financial support shall not apply for the fund.

Moreover, MIIT will give priority to outstanding enterprises in national demonstration bases for new industrialized sectors and to programs reported by cities (prefectures) with stable industrial growth as well as achievements in industrial transformation and upgrade.

Among the 25 key tasks, many are in the manufacturing, intelligent, and advanced materials sectors, which are in accordance with the development focuses of the tire industry.

An industry insider said the tire industry should take the opportunity and find a shortcut for smooth development of its programs.