Fund for Chongqing private economy to be in place

Chongqing is to allocate the first special fund worth of 100 million yuan for the overall development of its private economy. The draft of supported items is released and projects of 103 private companies will stay posted online between August 15 and August 20, 2012. Provided that no dissent is produced, Chongqing Finance Bureau will have these subsidies appropriated to the enterprises within August, 2012.

The website to apply for this special fund has been visited 320 thousand times by August 14, with 2,962 registered private companies, according to Chongqing Economy and Information Commission. These companies submitted 745 items on this website and 382 printed pieces of projects to relevant office.

Chongqing Committee of Approving Grants (CCAG) held a plenary meeting concerning the special fund on the morning of August 15. CCAG adopted secret ballot as a result of full discussion and intended to support projects of 103 private companies. These projects, with a total investment of 5.43 billion yuan, are to be subsidized by a financial aid worth of 100 million.

Deng Jun