Technology transformation refers to the investment activities undertaken by enterprises to upgrade and enhance existing facilities, process conditions and production services through the adoption of new technologies, processes, equipment and materials, as well as the elimination of outdated production capacity to achieve internal development. In recent years, Shanghai has increased its support for enterprise technology transformation and continuously stimulated investment vitality.

The Shanghai Technology Transformation Project mainly supports digitalization, high-end development, clustering, service-oriented, quality improvement, and green transformation. Examples of transformation projects include the construction of smart factories, digital transformation, the transformation of industrial chain collaboration, technological innovation, testing and inspection, product quality improvement, and green transformation.

To apply for the supports in the project, the following criteria must be met: the total investment in the technology transformation project is more than 20 million yuan ($2.79 million), the pre-construction procedures such as investment project filing, environmental protection, and construction permits are completed, the funds are in place, and construction has commenced.

As for the supports, the ratio of the support funding to the approved total investment should be no larger than 10 percent, with a maximum support funding of 50 million yuan. The total investment in the project includes fixed asset investment for construction, installation and equipment procurement, as well as other investments such as software, patents, testing, intelligent integration, and outsourced research and development (R&D) services.

Please apply online at the Shanghai Municipal Commission of Economy and Informatization’s special fund project management and service platform (https://app.sheitc.sh.gov.cn). After initial eligibility reviews, projects that meet the application criteria will then proceed to the evaluation stage.

Source: fgw.sh.gov.cn