March 27 2023

Hangzhou: Provide financial subsidies of up to 2 million yuan to enterprises for R&D investment

Recently, Hangzhou Science and Technology Bureau is soliciting public comments on the Implementation Rules of Hangzhou Enterprise R&D Expenditure Financial Subsidies (Draft for Comments). Feedback will be given until April 12, 2023.

"Implementation Rules" is a continuation of "Hangzhou Technology enterprises Research and development expenses investment financial subsidy fund Management Measures". All kinds of national, provincial and municipal technology-based small and medium-sized (micro) enterprises, high and new technology enterprises, and municipal headquarters enterprises that are registered in Hangzhou according to law and certified as valid by the state, provincial and municipal departments of science and technology can enjoy financial subsidies according to the Implementation Rules. The financial subsidies for enterprises' R&D expenses shall take the form of after-the-fact subsidies. On the basis of fully implementing the policy of pre-tax additional deduction of enterprise R&D expenses, enterprises whose R&D input is larger than that of the previous year will be granted a subsidy of up to 2 million yuan, no more than 20% of the incremental part of R&D input. The detailed rules also specify that the key targets of financial subsidies for R&D expenses of enterprises include small and medium-sized scientific and technological enterprises, high-tech enterprises and municipal headquarters enterprises.