Taiyuan to Develop into IT Industry Hub

The bureau of industry and information technology in Taiyuan, capital of North China's Shanxi province, recently issued policies to develop the city into a national hub of the information technology (IT) industry.

The policies involve incentives and subsidies for the manufacturing of electronic information products, new-generation semiconductors, IT application innovation, internet of things, big data and artificial intelligence industrial chains.

Taiyuan will support the development of semiconductors, artificial intelligence, information security, and sensor enterprises by giving a one-time reward of CNY 1 million ($147,762), CNY 3 million, and CNY 5 million, respectively, to those generating annual business revenues of CNY 100 million, CNY 500 million, or CNY 1 billion for the first time.

It encourages Fortune Global 500 enterprises, key software companies within the national planning and layout, and national top 100 electronic information, software and internet enterprises to invest in the city's digital industries and will give a one-time award of CNY 2 million to CNY 10 million upon identification.

For software R&D, promotion and application projects with strong independent innovation abilities, core independent intellectual property and rapid industrialization, a one-time award of up to CNY 5 million will be given.

In addition, Taiyuan supports the digital transformation of enterprises and will grant awards of up to CNY 5 million according for each enterprise's investment in software and hardware.