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New measures facilitate Xiamen FTZ's IC sector development

ftz.xm.gov.cn| Updated: July 5, 2023

The Xiamen Area of China (Fujian) Plot Free Trade Zone – located in Xiamen city, in East China's Fujian province – recently issued new measures that are designed to pave the way for the further development of its platform for innovation and entrepreneurship in the integrated circuits, or IC industry.

They aim to boost the business environment and provide benefits for both enterprises and employees.

Under the new measures, IC companies meeting certain criteria will receive a 50 percent subsidy on interest from loans and guarantee fees. The maximum subsidy for each company is 500,000 yuan ($68,990).

IC design companies landing in the platform for innovation and entrepreneurship will also receive a district-level subsidy that is based on their municipal-level subsidy for the production of computer chips. Moreover, the subsidy rate has been increased from 20 percent to 30 percent.

In addition, there are measures that focus on the settlement and employment of top new employees and generous subsidies are being granted to attract young talent.

In particular, top eligible graduates from Taiwan within two years of graduation will be given employment subsidies – 100,000 yuan for undergraduate students, 200,000 yuan for master's degree students and 300,000 yuan for doctorate degree students (including postdoctoral fellows).

What's more, an internship subsidy is available for eligible students with suitable majors.

Executives and core personnel of IC companies in the platform for innovation and entrepreneurship will also be given handsome rewards, in accordance with 50 percent of the retained portion of their annual personal economic development contributions.