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Incentive Policies Accelerate Rise of Software Industries in Ningbo
2019-08-05Text Size: A A A

Ningbo has launched the 2019 subsidy application program for the city’s software industry, with the aim to promote a rapid rise of the industry through policies. According to the program, the government will give incentives to software enterprises settled in the city, enterprises with high-speed growth, regulatory enterprises, and those with high investment in R&D.

In September, 2018, Ningbo launched its campaign to build a city of software as it dealt with challenges of high-quality development in the manufacturing industry. The city strives to make the manufacturing sector pull thorough the plight with integrated industrial software, embedded software and industrial internet operating system software. In addition, the city will cultivate a batch of application software and industrial software service enterprises in smart manufacturing.

As the campaign sets off, the city makes greater effort to bring in the leading enterprises and projects in the software industry, including Hollysys, Megvii robots, Wotu (Fertile Land) Project of Huawei and ByteDance. The settlement of these enterprises and projects has served as a new momentum in the city’s software industry development.

In the meantime, the city is encouraging the software enterprises to innovate and expand industry linkage and exchanges. As such, they have quickened their pace of rise. Statistics reveal that the city’s software business raked in 37.34 billion yuan in revenue earlier this year, up by 21.89% year on year. It achieved 2.14 billion yuan on profit tax and 6.55 billion yuan in total profit, up by 13.99% and 12.72% respectively. Of them, revenues in software products, information security, cloud services, big data services, and e-commerce platforms registered 30%-plus growth.

“It is urgent to quicken the growth of software and information service industries and strive for a the honor of ‘city of software’ since it gets the industry a head start in competition and promotes industrial integration in the city.”, say an official at the city’s Economic and Information Technology Bureau. The governments gives subsidies more than ever to encourage the software enterprises to grow and boom. Take global top 500 enterprises and top 100 software enterprises at home for example, they can receive an incentive of up to 15 million yuan (no more than 15% of their major business revenue) as long as they boast over 10 million yuan of registered capital in Ningbo, 50 million yuan of major business revenue in 2018, and over 100 employees.

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