Implementation Plan for Temporary Interest Subsidies on Medium- and Long-Term Loans for the Manufacturing Sector in Gansu Province
2023-08-25 00:00
To thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the Central Economic Work Conference, fully carry out the work arrangements of the Provincial Party Committee and Provincial Government, and promote the high-end, intelligent, and green development of the manufacturing sector, this Implementation Plan is formulated in accordance with the requirements of the National Development and Reform Commission regarding the expansion of medium- and long-term loans for the manufacturing sector, with the aim of further guiding the financial sector to increase support for the province’s manufacturing sector and effectively reduce financing costs for manufacturing enterprises.
I. General Requirements
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of General Secretary Xi Jinping’s important speeches, instructions, and directives on supporting the development of the manufacturing sector. We will fully carry out the arrangements and deployments of the Second Plenary Session of the 14th Provincial Party Committee and the Provincial Party Committee’s Economic Work Conference. We will vigorously advance the “Three Focuses and Three Promotions” initiative and the “Four Strengths” initiative, continuously optimize the business environment, effectively assist enterprises in resolving financing difficulties, and accelerate the high-quality development of the province’s manufacturing sector.
II. Supported Sectors
In accordance with the key support areas for the national initiative to expand medium- and long-term loans to the manufacturing sector, Gansu Province’s interest subsidy program for medium- and long-term manufacturing loans will prioritize the following: the transformation and upgrading of traditional industries; information infrastructure in key sectors; the electronic information manufacturing industry; full-chain technological product innovation and manufacturing in the bio-industry; the aerospace industry;R&D and manufacturing of high-end scientific research instruments; efficient energy utilization and low-carbon transition; R&D of key technologies and equipment manufacturing in the new and renewable energy sectors; R&D, manufacturing, and application of hydrogen energy; expansion of innovation platforms and upgrading of technical equipment; digital transformation of traditional industries; manufacturing and upgrading of equipment related to energy conservation, carbon reduction, recycling, and water conservation in key sectors; and procurement and upgrading of equipment to enhance the security of strategic mineral, oil, and gas resources.
III. Eligibility, Standards, and Funding Sources
(1) Eligibility for Interest Subsidy. The Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, will compile a list of eligible projects for interest subsidies on medium- and long-term manufacturing loans after screening the shortlisted projects approved by the National Development and Reform Commission. Projects on this list for which loans were disbursed between July 1, 2023, and June 30, 2024, are eligible to apply for interest subsidies.Interest on overdue loans and penalty interest incurred by project entities due to late repayment of bank loans are not eligible for interest subsidies. Loans that have already received interest subsidies from provincial-level competent authorities in relevant industries shall not receive duplicate subsidies. Projects that have already secured special fiscal funds at any level during the same fiscal year may apply for interest subsidy support.
(2) Interest Subsidy Standards. Eligible projects will receive an interest subsidy of 2% of the loan amount, with a maximum subsidy of 1 million yuan per project.
(3) Funding Sources. Interest subsidy funds are incorporated into provincial budget management. Specifically, for 2023, 50% of the subsidy funds will be allocated by the Provincial Department of Industry and Information Technology from existing special funds, while the remaining 50% will be raised by the Provincial Department of Finance and disbursed according to the funding allocation plan calculated by the Provincial Development and Reform Commission based on actual figures.In 2024, interest subsidy funds will be included in the provincial annual budget. The Provincial Department of Finance will raise 50% of the funds and disburse them based on actual interest payments; the remaining 50% will be allocated by the Provincial Department of Industry and Information Technology from relevant special funds included in its departmental budget.
IV. Workflow
(1) Project Application. Interest subsidy projects are managed under a list-based system. The Provincial Development and Reform Commission, in collaboration with relevant units, cities, prefectures, and the Lanzhou New Area, will organize enterprises to submit applications for medium- and long-term manufacturing loans through the National Major Construction Project Database (see Attachment 1 for application guidelines). After preliminary review at the county (district, city), city (prefecture), and provincial levels by the development and reform departments, the applications will be submitted to the National Development and Reform Commission for review.For manufacturing medium- and long-term loan projects on the list approved by the National Development and Reform Commission, the Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, will screen them to form a list of manufacturing medium- and long-term loan interest subsidy projects. This list will be recommended to the provincial branches of 18 national banks and 3 local legal-person banks, with copies sent to the Provincial Department of Finance. Each bank shall conduct independent evaluations in accordance with market-oriented and rule-of-law principles and make autonomous decisions regarding whether to grant loans to projects on the list.
(2) Application for Interest Subsidy. Within five working days after the end of each quarter, the provincial branches of the participating banks shall simultaneously submit the application for loan interest subsidy funds and the detailed schedule in accordance with this plan to the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology, along with supporting materials such as loan contracts, loan disbursement receipts, and interest payment vouchers.The provincial branches of the participating banks must conscientiously compile and report loan interest subsidy data; falsifying materials to fraudulently obtain fiscal interest subsidies is strictly prohibited. For projects on the subsidy list that secure loans from national banking institutions outside the province, the project entities shall promptly report the loan disbursement status to the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology after obtaining the loan, and the national banking institutions outside the province shall apply for the interest subsidy.
(3) Review and Disbursement. The Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, shall review and consolidate the demand for interest subsidy funds, formulate an allocation plan for such funds (with interest subsidies for syndicated loans calculated based on each bank’s disbursement proportion) and performance targets, and submit these to the Provincial Department of Finance; the Provincial Department of Finance shall disburse interest subsidies for loans that comply with the provisions of these Measures based on the funding allocation plans and performance target tables provided by the Development and Reform and Industry and Information Technology departments.
V. Support Measures
(1) Strengthen Interdepartmental Coordination and Make Full Use of Preferential Policies.All cities, prefectures, and departments shall draw upon the experience and practices of the coordination mechanism for promoting key effective investment projects to strengthen interdepartmental coordination within their respective regions. Provincial-level development and reform, industry and information technology, and finance departments shall establish collaborative mechanisms with banks, enhance communication and coordination, effectively utilize interest subsidy policies, guide banks to increase credit support for manufacturing enterprises, and jointly promote the implementation and effectiveness of expanding medium- and long-term loan disbursements to the manufacturing sector.
(2) Strengthen Resource Support and Improve Support Policies. For projects included in the interest subsidy list but still requiring administrative approvals and procedures such as land use, energy consumption, and environmental impact assessments, all cities, prefectures, and departments shall, on the basis of legality and compliance, improve the efficiency of administrative approval processes for relevant procedures. This will ensure projects quickly meet the basic requirements for loan approval and meet the conditions for construction commencement and credit approval.Localities may, based on their own conditions and industrial development priorities, increase the guarantee support provided by government-backed guarantee funds for eligible projects and work to reduce financing guarantee fees.
(3) Strengthen supervision and management to prevent various risks. In accordance with relevant regulations, enterprises are responsible for bearing their own loan debts. All cities, prefectures, and departments must strictly adhere to the requirements of relevant notices regarding medium- and long-term loans for the manufacturing sector, rigorously screen projects during the initial review stage, strictly control new hidden debt, and ensure the authenticity and compliance of projects.Submitted projects must be rigorously screened and vetted in accordance with requirements to avoid errors in key information reporting; in particular, the submission of prohibited projects, falsification of project information, or fraudulent claims for interest subsidies must not occur. Project entities listed as discredited debtors or those with serious violations of laws and regulations shall not be recommended.All banks must, in accordance with market-oriented and rule-of-law principles, expedite loan approval and disbursement, strengthen post-loan management, establish interest subsidy ledgers, and enhance full-process oversight of fund usage to ensure rapid and targeted support for enterprises. Project entities receiving interest subsidies must voluntarily accept supervision and inspections from departments such as development and reform, industry and information technology, and finance. Relevant departments and units must voluntarily accept audit supervision.
(4) Expand publicity channels and foster a supportive environment. All cities, prefectures, departments, and banks must actively interpret and publicize interest subsidy policies through various means to fully mobilize enterprises’ enthusiasm and initiative in applying for medium- and long-term manufacturing loans. The exemplary role of model cases should be leveraged to promptly summarize, publicize, and promote effective practices and experiences in implementing medium- and long-term manufacturing loans, thereby fostering a favorable provincial atmosphere that supports the high-quality development of the manufacturing sector.
VI. Other Provisions
This plan shall take effect from the date of issuance and remain valid for one year.
Attachment: 1. Operational Guidelines for Applying to the Gansu Province Manufacturing Medium- and Long-Term Loan Interest Subsidy Program
2. Provincial Branches of National Banks and Local Legal-Person Banks
Appendix 1: Operational Guidelines for Applying for the Gansu Province Medium- and Long-Term Loan Interest Subsidy Program for the Manufacturing Sector
The application process and related procedures for medium- and long-term manufacturing loan projects are generally similar to those for local government special bond projects. Project entities must register their projects in the Major Construction Project Database.
I. Project Entities
(1) Log in to the system.
Access the National Major Construction Project Database via the internet, register an account, and log in to the system.
(2) Project Submission.
1. Add a New Project. In the “Project Management – Submission Area” menu module, click the “Add” button to create a project. Fill in the relevant business indicators for “Medium- and Long-Term Loan” projects. The instructions for key indicators are as follows:
(1) For projects intended to apply for medium- and long-term loans, select “Yes” in the “Is this a medium- and long-term loan?” field on the Basic Information form;
(2) In the “Investment Status” table, fill in the information in the “Total Investment” column and the “Funding Requirements – 2023” column corresponding to the “Bank Loans” row;
(3) For bank loans that have already been arranged, enter the information in the “Cumulative Allocated (Arranged) Funds” column under “Bank Loans” in the Investment Status Table;
(4) When submitting project information, ensure that key details in the “Basic Information” section—including loan destination, loan purpose, whether the project is on the negative list, the bank where the project’s primary account is held, recommended partner banks, and applicable planning categories—are accurate and error-free.You must communicate and coordinate in advance with the suggested partner banks listed; up to two partner banks may be entered. For projects selected as “Infrastructure Projects,” the proportion of infrastructure investment within the total project investment must be specified in the “Loan Purpose” field.
2. Project Submission. In the “Project Management – Reporting Area” menu module, click the “Submit” button to submit the “Medium- and Long-Term Loan” project.
3. Modifying Submitted Projects. For projects that have already been submitted, if modifications are needed, contact the superior department to unlock the project (the project lock level must be “None”), then click the project name to make changes directly.
4. Registering on the “Gansu Xinyidai” Platform. After completing the submission in the Major Construction Project Database, the project entity must also log in to the “Gansu Xinyidai” platform to publish its financing needs.
II. Local Development and Reform Departments
(1) Logging into the System.
Development and Reform departments at all levels shall access the National Major Construction Project Database via the government external network and log in to the system using the pre-configured review account.
(2) Project Review and Inclusion in the Database.
1. Initial Project Review. Provincial, municipal, and county-level development and reform departments can view “Medium- and Long-Term Loan” projects submitted by project entities in the “Project Management – Review Area” menu module. After verifying that the project is accurate, add it to the project database at their respective level.
2. Adding Projects at the Current Level. For projects at the current level, use the “Add” button to add them. Instructions for filling out key indicators are as follows:
(1) For projects intended to apply for medium- and long-term loans, select “Yes” in the “Is this a medium- and long-term loan?” field of the Basic Information form;
(2) In the Investment Status Table, fill in the information in the “Total Investment” column and the “Funding Requirement—2023” column corresponding to the “Bank Loan” row;
(3) For bank loans that have already been arranged, enter the information in the “Cumulative Allocated (Arranged) Funds” column corresponding to “Bank Loans” in the Investment Status Table;
(4) When submitting project information, ensure that key details in the “Basic Information” section—including loan destination, loan purpose, whether the project is on the negative list, the bank where the project’s basic account is held, the recommended partner bank, and the applicable planning framework—are accurate and error-free.
I. General Requirements
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of General Secretary Xi Jinping’s important speeches, instructions, and directives on supporting the development of the manufacturing sector. We will fully carry out the arrangements and deployments of the Second Plenary Session of the 14th Provincial Party Committee and the Provincial Party Committee’s Economic Work Conference. We will vigorously advance the “Three Focuses and Three Promotions” initiative and the “Four Strengths” initiative, continuously optimize the business environment, effectively assist enterprises in resolving financing difficulties, and accelerate the high-quality development of the province’s manufacturing sector.
II. Supported Sectors
In accordance with the key support areas for the national initiative to expand medium- and long-term loans to the manufacturing sector, Gansu Province’s interest subsidy program for medium- and long-term manufacturing loans will prioritize the following: the transformation and upgrading of traditional industries; information infrastructure in key sectors; the electronic information manufacturing industry; full-chain technological product innovation and manufacturing in the bio-industry; the aerospace industry;R&D and manufacturing of high-end scientific research instruments; efficient energy utilization and low-carbon transition; R&D of key technologies and equipment manufacturing in the new and renewable energy sectors; R&D, manufacturing, and application of hydrogen energy; expansion of innovation platforms and upgrading of technical equipment; digital transformation of traditional industries; manufacturing and upgrading of equipment related to energy conservation, carbon reduction, recycling, and water conservation in key sectors; and procurement and upgrading of equipment to enhance the security of strategic mineral, oil, and gas resources.
III. Eligibility, Standards, and Funding Sources
(1) Eligibility for Interest Subsidy. The Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, will compile a list of eligible projects for interest subsidies on medium- and long-term manufacturing loans after screening the shortlisted projects approved by the National Development and Reform Commission. Projects on this list for which loans were disbursed between July 1, 2023, and June 30, 2024, are eligible to apply for interest subsidies.Interest on overdue loans and penalty interest incurred by project entities due to late repayment of bank loans are not eligible for interest subsidies. Loans that have already received interest subsidies from provincial-level competent authorities in relevant industries shall not receive duplicate subsidies. Projects that have already secured special fiscal funds at any level during the same fiscal year may apply for interest subsidy support.
(2) Interest Subsidy Standards. Eligible projects will receive an interest subsidy of 2% of the loan amount, with a maximum subsidy of 1 million yuan per project.
(3) Funding Sources. Interest subsidy funds are incorporated into provincial budget management. Specifically, for 2023, 50% of the subsidy funds will be allocated by the Provincial Department of Industry and Information Technology from existing special funds, while the remaining 50% will be raised by the Provincial Department of Finance and disbursed according to the funding allocation plan calculated by the Provincial Development and Reform Commission based on actual figures.In 2024, interest subsidy funds will be included in the provincial annual budget. The Provincial Department of Finance will raise 50% of the funds and disburse them based on actual interest payments; the remaining 50% will be allocated by the Provincial Department of Industry and Information Technology from relevant special funds included in its departmental budget.
IV. Workflow
(1) Project Application. Interest subsidy projects are managed under a list-based system. The Provincial Development and Reform Commission, in collaboration with relevant units, cities, prefectures, and the Lanzhou New Area, will organize enterprises to submit applications for medium- and long-term manufacturing loans through the National Major Construction Project Database (see Attachment 1 for application guidelines). After preliminary review at the county (district, city), city (prefecture), and provincial levels by the development and reform departments, the applications will be submitted to the National Development and Reform Commission for review.For manufacturing medium- and long-term loan projects on the list approved by the National Development and Reform Commission, the Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, will screen them to form a list of manufacturing medium- and long-term loan interest subsidy projects. This list will be recommended to the provincial branches of 18 national banks and 3 local legal-person banks, with copies sent to the Provincial Department of Finance. Each bank shall conduct independent evaluations in accordance with market-oriented and rule-of-law principles and make autonomous decisions regarding whether to grant loans to projects on the list.
(2) Application for Interest Subsidy. Within five working days after the end of each quarter, the provincial branches of the participating banks shall simultaneously submit the application for loan interest subsidy funds and the detailed schedule in accordance with this plan to the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology, along with supporting materials such as loan contracts, loan disbursement receipts, and interest payment vouchers.The provincial branches of the participating banks must conscientiously compile and report loan interest subsidy data; falsifying materials to fraudulently obtain fiscal interest subsidies is strictly prohibited. For projects on the subsidy list that secure loans from national banking institutions outside the province, the project entities shall promptly report the loan disbursement status to the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology after obtaining the loan, and the national banking institutions outside the province shall apply for the interest subsidy.
(3) Review and Disbursement. The Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, shall review and consolidate the demand for interest subsidy funds, formulate an allocation plan for such funds (with interest subsidies for syndicated loans calculated based on each bank’s disbursement proportion) and performance targets, and submit these to the Provincial Department of Finance; the Provincial Department of Finance shall disburse interest subsidies for loans that comply with the provisions of these Measures based on the funding allocation plans and performance target tables provided by the Development and Reform and Industry and Information Technology departments.
V. Support Measures
(1) Strengthen Interdepartmental Coordination and Make Full Use of Preferential Policies.All cities, prefectures, and departments shall draw upon the experience and practices of the coordination mechanism for promoting key effective investment projects to strengthen interdepartmental coordination within their respective regions. Provincial-level development and reform, industry and information technology, and finance departments shall establish collaborative mechanisms with banks, enhance communication and coordination, effectively utilize interest subsidy policies, guide banks to increase credit support for manufacturing enterprises, and jointly promote the implementation and effectiveness of expanding medium- and long-term loan disbursements to the manufacturing sector.
(2) Strengthen Resource Support and Improve Support Policies. For projects included in the interest subsidy list but still requiring administrative approvals and procedures such as land use, energy consumption, and environmental impact assessments, all cities, prefectures, and departments shall, on the basis of legality and compliance, improve the efficiency of administrative approval processes for relevant procedures. This will ensure projects quickly meet the basic requirements for loan approval and meet the conditions for construction commencement and credit approval.Localities may, based on their own conditions and industrial development priorities, increase the guarantee support provided by government-backed guarantee funds for eligible projects and work to reduce financing guarantee fees.
(3) Strengthen supervision and management to prevent various risks. In accordance with relevant regulations, enterprises are responsible for bearing their own loan debts. All cities, prefectures, and departments must strictly adhere to the requirements of relevant notices regarding medium- and long-term loans for the manufacturing sector, rigorously screen projects during the initial review stage, strictly control new hidden debt, and ensure the authenticity and compliance of projects.Submitted projects must be rigorously screened and vetted in accordance with requirements to avoid errors in key information reporting; in particular, the submission of prohibited projects, falsification of project information, or fraudulent claims for interest subsidies must not occur. Project entities listed as discredited debtors or those with serious violations of laws and regulations shall not be recommended.All banks must, in accordance with market-oriented and rule-of-law principles, expedite loan approval and disbursement, strengthen post-loan management, establish interest subsidy ledgers, and enhance full-process oversight of fund usage to ensure rapid and targeted support for enterprises. Project entities receiving interest subsidies must voluntarily accept supervision and inspections from departments such as development and reform, industry and information technology, and finance. Relevant departments and units must voluntarily accept audit supervision.
(4) Expand publicity channels and foster a supportive environment. All cities, prefectures, departments, and banks must actively interpret and publicize interest subsidy policies through various means to fully mobilize enterprises’ enthusiasm and initiative in applying for medium- and long-term manufacturing loans. The exemplary role of model cases should be leveraged to promptly summarize, publicize, and promote effective practices and experiences in implementing medium- and long-term manufacturing loans, thereby fostering a favorable provincial atmosphere that supports the high-quality development of the manufacturing sector.
VI. Other Provisions
This plan shall take effect from the date of issuance and remain valid for one year.
Attachment: 1. Operational Guidelines for Applying to the Gansu Province Manufacturing Medium- and Long-Term Loan Interest Subsidy Program
2. Provincial Branches of National Banks and Local Legal-Person Banks
Appendix 1: Operational Guidelines for Applying for the Gansu Province Medium- and Long-Term Loan Interest Subsidy Program for the Manufacturing Sector
The application process and related procedures for medium- and long-term manufacturing loan projects are generally similar to those for local government special bond projects. Project entities must register their projects in the Major Construction Project Database.
I. Project Entities
(1) Log in to the system.
Access the National Major Construction Project Database via the internet, register an account, and log in to the system.
(2) Project Submission.
1. Add a New Project. In the “Project Management – Submission Area” menu module, click the “Add” button to create a project. Fill in the relevant business indicators for “Medium- and Long-Term Loan” projects. The instructions for key indicators are as follows:
(1) For projects intended to apply for medium- and long-term loans, select “Yes” in the “Is this a medium- and long-term loan?” field on the Basic Information form;
(2) In the “Investment Status” table, fill in the information in the “Total Investment” column and the “Funding Requirements – 2023” column corresponding to the “Bank Loans” row;
(3) For bank loans that have already been arranged, enter the information in the “Cumulative Allocated (Arranged) Funds” column under “Bank Loans” in the Investment Status Table;
(4) When submitting project information, ensure that key details in the “Basic Information” section—including loan destination, loan purpose, whether the project is on the negative list, the bank where the project’s primary account is held, recommended partner banks, and applicable planning categories—are accurate and error-free.You must communicate and coordinate in advance with the suggested partner banks listed; up to two partner banks may be entered. For projects selected as “Infrastructure Projects,” the proportion of infrastructure investment within the total project investment must be specified in the “Loan Purpose” field.
2. Project Submission. In the “Project Management – Reporting Area” menu module, click the “Submit” button to submit the “Medium- and Long-Term Loan” project.
3. Modifying Submitted Projects. For projects that have already been submitted, if modifications are needed, contact the superior department to unlock the project (the project lock level must be “None”), then click the project name to make changes directly.
4. Registering on the “Gansu Xinyidai” Platform. After completing the submission in the Major Construction Project Database, the project entity must also log in to the “Gansu Xinyidai” platform to publish its financing needs.
II. Local Development and Reform Departments
(1) Logging into the System.
Development and Reform departments at all levels shall access the National Major Construction Project Database via the government external network and log in to the system using the pre-configured review account.
(2) Project Review and Inclusion in the Database.
1. Initial Project Review. Provincial, municipal, and county-level development and reform departments can view “Medium- and Long-Term Loan” projects submitted by project entities in the “Project Management – Review Area” menu module. After verifying that the project is accurate, add it to the project database at their respective level.
2. Adding Projects at the Current Level. For projects at the current level, use the “Add” button to add them. Instructions for filling out key indicators are as follows:
(1) For projects intended to apply for medium- and long-term loans, select “Yes” in the “Is this a medium- and long-term loan?” field of the Basic Information form;
(2) In the Investment Status Table, fill in the information in the “Total Investment” column and the “Funding Requirement—2023” column corresponding to the “Bank Loan” row;
(3) For bank loans that have already been arranged, enter the information in the “Cumulative Allocated (Arranged) Funds” column corresponding to “Bank Loans” in the Investment Status Table;
(4) When submitting project information, ensure that key details in the “Basic Information” section—including loan destination, loan purpose, whether the project is on the negative list, the bank where the project’s basic account is held, the recommended partner bank, and the applicable planning framework—are accurate and error-free.
Appendix 2: Provincial Branches of National Banks and Local Legal-Person Banks
Gansu Province Measures for the Administration of Phased Interest Subsidy Funds for Medium- and Long-Term Loans in the Manufacturing Sector
Chapter 1 General Provisions
Article 1 These Measures are formulated to thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the Central Economic Work Conference, earnestly carry out the decisions and arrangements of the Party Central Committee, the State Council, and the Provincial Party Committee and Provincial Government regarding promoting high-quality development in the manufacturing sector, leverage more financial resources to support the province’s manufacturing sector in reaching new heights, advance the high-quality development of the province’s manufacturing sector, and standardize the use and management of loan interest subsidy funds.
Article 2: Interest subsidy funds refer to phased interest subsidy funds allocated by the provincial government for medium- and long-term loans to manufacturing enterprises. Of these, 50% shall be raised by the Provincial Department of Finance for actual interest subsidies, while the remaining 50% shall be allocated by the Provincial Department of Industry and Information Technology from relevant special funds included in the departmental budget.
Chapter II Scope and Standards of Interest Subsidy
Article 3 Scope of Interest Subsidy: Projects listed in the interest subsidy program for medium- and long-term manufacturing loans disbursed between July 1, 2023, and June 30, 2024, are eligible to apply for interest subsidies.Loans that have already received interest subsidies from provincial-level competent authorities in relevant industries shall not be eligible for duplicate subsidies. Projects that have secured special fiscal funds at any level during the same fiscal year may apply for interest subsidy support. Interest on overdue loans and penalty interest incurred by project entities due to late repayment of bank loans shall not be subsidized.
Article 4: Investment entities applying for interest subsidies must have normal production and operations and a good credit standing.Interest subsidy projects must comply with national industrial policies, regional policies, and energy conservation and environmental protection policies. Priority support will be given to projects falling within the scope of the 102 major projects under the 14th Five-Year Plan, key special plans and regional plans approved by the State Council and relevant State Council departments, local key plans, and related implementation plans. Projects must meet capacity replacement conditions and must not involve the creation of new excess capacity.
Article 5: Interest Subsidy Standards: Eligible projects shall receive an interest subsidy of 2% of the loan amount, with a maximum subsidy of 1 million yuan per project.
Chapter III: Interest Subsidy Workflow
Article 6: Project Application: The Provincial Development and Reform Commission, in conjunction with relevant units, municipalities, prefectures, and the Lanzhou New Area, shall organize enterprises to submit applications for medium- and long-term manufacturing loans through the National Major Construction Project Database. After preliminary review at the county (district, city), municipal (prefectural), and provincial levels by the development and reform departments, the applications shall be submitted to the National Development and Reform Commission for review.For projects on the list of medium- and long-term manufacturing loans approved by the National Development and Reform Commission, the Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, shall screen them to form a list of medium- and long-term manufacturing loan interest subsidy projects. This list shall be recommended to the provincial branches of 18 national banks and 3 local legal-person banks, with a copy sent to the Provincial Department of Finance. Each bank shall independently evaluate and decide whether to grant loans to projects on the list in accordance with the principles of marketization and rule of law.
Article 7: Application for Interest Subsidy: Within 5 working days after the end of each quarter, the provincial branches of the participating banks shall simultaneously submit applications for loan interest subsidy funds and detailed schedules that comply with the provisions of these Measures to the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology, along with supporting materials such as loan contracts, loan disbursement notes, and interest settlement certificates.For projects on the interest subsidy list that obtain loans from national banking institutions outside the province, the project entity shall, upon receiving the loan, promptly report the loan disbursement details to the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology, and the national banking institution outside the province shall apply for the interest subsidy.
Article 8: Review and Disbursement:The Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, shall review and consolidate the demand for interest subsidy funds, formulate an allocation plan for such funds (for syndicated loans, interest subsidies shall be calculated based on each bank’s disbursement proportion), and establish performance targets. These shall be submitted to the Provincial Department of Finance. The Provincial Department of Finance shall disburse interest subsidies for loans that comply with the provisions of these Measures based on the fund allocation plans and performance target tables provided by the Development and Reform and Industry and Information Technology departments.
Chapter IV: Supervision, Management, and Responsibilities
Article 9: Interest subsidy funds shall be subject to performance management. The Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology shall strengthen budget performance management in accordance with performance management requirements, and shall conduct performance monitoring and evaluation. At the end of each fiscal year, the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology shall conduct self-evaluations of performance, prepare corresponding self-evaluation reports, and submit the evaluation results to the Provincial Department of Finance.The Provincial Department of Finance shall conduct targeted performance evaluations of the implementation of interest subsidy funds at appropriate times. The application of evaluation results shall be strengthened, and policies shall be promptly adjusted and improved, and budget arrangements optimized, based on the results of performance evaluations.
Article 10: Strictly supervise and manage to prevent various risks. In accordance with relevant regulations, strictly control the risk of hidden government debt; enterprises shall bear their own loan debts. All cities, prefectures, and departments must strictly adhere to the requirements of relevant notices regarding medium- and long-term loans for the manufacturing sector, rigorously conduct preliminary reviews of projects, and ensure the authenticity and compliance of projects.Submitted projects must be rigorously screened and vetted in strict accordance with requirements to avoid errors in key information reporting. In particular, the submission of prohibited projects, falsification of project information, or fraudulent claims for interest subsidies must not occur. Project entities listed as discredited debtors or those with serious violations of laws and regulations shall not be recommended. Project entities receiving interest subsidies must voluntarily accept supervision and inspections by departments such as development and reform, industry and information technology, and finance. Relevant departments and units must voluntarily accept audit supervision.
Article 11: All banking institutions shall, in accordance with market-oriented and rule-of-law principles, promptly organize and carry out the matching of projects on the interest subsidy list. They shall sign agreements and disburse funds for projects that meet their respective credit standards, and manage loan funds in accordance with regulatory requirements to ensure that interest-subsidized loans are used for the key manufacturing medium- and long-term loan interest subsidy projects clearly designated by the province.Handling banks shall strengthen post-loan management, maintain separate ledgers for interest-subsidized loan operations, properly safeguard loan contracts and related business documents, and cooperate with relevant departments during inspections.
Article 12: If any banking institution submits falsified materials to fraudulently obtain fiscal interest subsidy funds, the finance department shall recover or withhold the subsidy funds and impose penalties in accordance with the law.
Chapter V: Supplementary Provisions
Article 13. The Provincial Development and Reform Commission, the Provincial Department of Industry and Information Technology, and the Provincial Department of Finance shall be responsible for interpreting these Measures.
Article 14. These Measures shall take effect on the date of issuance and remain valid for one year.
Article 1 These Measures are formulated to thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the Central Economic Work Conference, earnestly carry out the decisions and arrangements of the Party Central Committee, the State Council, and the Provincial Party Committee and Provincial Government regarding promoting high-quality development in the manufacturing sector, leverage more financial resources to support the province’s manufacturing sector in reaching new heights, advance the high-quality development of the province’s manufacturing sector, and standardize the use and management of loan interest subsidy funds.
Article 2: Interest subsidy funds refer to phased interest subsidy funds allocated by the provincial government for medium- and long-term loans to manufacturing enterprises. Of these, 50% shall be raised by the Provincial Department of Finance for actual interest subsidies, while the remaining 50% shall be allocated by the Provincial Department of Industry and Information Technology from relevant special funds included in the departmental budget.
Chapter II Scope and Standards of Interest Subsidy
Article 3 Scope of Interest Subsidy: Projects listed in the interest subsidy program for medium- and long-term manufacturing loans disbursed between July 1, 2023, and June 30, 2024, are eligible to apply for interest subsidies.Loans that have already received interest subsidies from provincial-level competent authorities in relevant industries shall not be eligible for duplicate subsidies. Projects that have secured special fiscal funds at any level during the same fiscal year may apply for interest subsidy support. Interest on overdue loans and penalty interest incurred by project entities due to late repayment of bank loans shall not be subsidized.
Article 4: Investment entities applying for interest subsidies must have normal production and operations and a good credit standing.Interest subsidy projects must comply with national industrial policies, regional policies, and energy conservation and environmental protection policies. Priority support will be given to projects falling within the scope of the 102 major projects under the 14th Five-Year Plan, key special plans and regional plans approved by the State Council and relevant State Council departments, local key plans, and related implementation plans. Projects must meet capacity replacement conditions and must not involve the creation of new excess capacity.
Article 5: Interest Subsidy Standards: Eligible projects shall receive an interest subsidy of 2% of the loan amount, with a maximum subsidy of 1 million yuan per project.
Chapter III: Interest Subsidy Workflow
Article 6: Project Application: The Provincial Development and Reform Commission, in conjunction with relevant units, municipalities, prefectures, and the Lanzhou New Area, shall organize enterprises to submit applications for medium- and long-term manufacturing loans through the National Major Construction Project Database. After preliminary review at the county (district, city), municipal (prefectural), and provincial levels by the development and reform departments, the applications shall be submitted to the National Development and Reform Commission for review.For projects on the list of medium- and long-term manufacturing loans approved by the National Development and Reform Commission, the Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, shall screen them to form a list of medium- and long-term manufacturing loan interest subsidy projects. This list shall be recommended to the provincial branches of 18 national banks and 3 local legal-person banks, with a copy sent to the Provincial Department of Finance. Each bank shall independently evaluate and decide whether to grant loans to projects on the list in accordance with the principles of marketization and rule of law.
Article 7: Application for Interest Subsidy: Within 5 working days after the end of each quarter, the provincial branches of the participating banks shall simultaneously submit applications for loan interest subsidy funds and detailed schedules that comply with the provisions of these Measures to the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology, along with supporting materials such as loan contracts, loan disbursement notes, and interest settlement certificates.For projects on the interest subsidy list that obtain loans from national banking institutions outside the province, the project entity shall, upon receiving the loan, promptly report the loan disbursement details to the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology, and the national banking institution outside the province shall apply for the interest subsidy.
Article 8: Review and Disbursement:The Provincial Development and Reform Commission, in conjunction with the Provincial Department of Industry and Information Technology, shall review and consolidate the demand for interest subsidy funds, formulate an allocation plan for such funds (for syndicated loans, interest subsidies shall be calculated based on each bank’s disbursement proportion), and establish performance targets. These shall be submitted to the Provincial Department of Finance. The Provincial Department of Finance shall disburse interest subsidies for loans that comply with the provisions of these Measures based on the fund allocation plans and performance target tables provided by the Development and Reform and Industry and Information Technology departments.
Chapter IV: Supervision, Management, and Responsibilities
Article 9: Interest subsidy funds shall be subject to performance management. The Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology shall strengthen budget performance management in accordance with performance management requirements, and shall conduct performance monitoring and evaluation. At the end of each fiscal year, the Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology shall conduct self-evaluations of performance, prepare corresponding self-evaluation reports, and submit the evaluation results to the Provincial Department of Finance.The Provincial Department of Finance shall conduct targeted performance evaluations of the implementation of interest subsidy funds at appropriate times. The application of evaluation results shall be strengthened, and policies shall be promptly adjusted and improved, and budget arrangements optimized, based on the results of performance evaluations.
Article 10: Strictly supervise and manage to prevent various risks. In accordance with relevant regulations, strictly control the risk of hidden government debt; enterprises shall bear their own loan debts. All cities, prefectures, and departments must strictly adhere to the requirements of relevant notices regarding medium- and long-term loans for the manufacturing sector, rigorously conduct preliminary reviews of projects, and ensure the authenticity and compliance of projects.Submitted projects must be rigorously screened and vetted in strict accordance with requirements to avoid errors in key information reporting. In particular, the submission of prohibited projects, falsification of project information, or fraudulent claims for interest subsidies must not occur. Project entities listed as discredited debtors or those with serious violations of laws and regulations shall not be recommended. Project entities receiving interest subsidies must voluntarily accept supervision and inspections by departments such as development and reform, industry and information technology, and finance. Relevant departments and units must voluntarily accept audit supervision.
Article 11: All banking institutions shall, in accordance with market-oriented and rule-of-law principles, promptly organize and carry out the matching of projects on the interest subsidy list. They shall sign agreements and disburse funds for projects that meet their respective credit standards, and manage loan funds in accordance with regulatory requirements to ensure that interest-subsidized loans are used for the key manufacturing medium- and long-term loan interest subsidy projects clearly designated by the province.Handling banks shall strengthen post-loan management, maintain separate ledgers for interest-subsidized loan operations, properly safeguard loan contracts and related business documents, and cooperate with relevant departments during inspections.
Article 12: If any banking institution submits falsified materials to fraudulently obtain fiscal interest subsidy funds, the finance department shall recover or withhold the subsidy funds and impose penalties in accordance with the law.
Chapter V: Supplementary Provisions
Article 13. The Provincial Development and Reform Commission, the Provincial Department of Industry and Information Technology, and the Provincial Department of Finance shall be responsible for interpreting these Measures.
Article 14. These Measures shall take effect on the date of issuance and remain valid for one year.
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