Guangdong: Exploring the Use of Fiscal Funds in "Subsidy-Reform-Investment" Model to Support Construction of Innovative Application Scenarios

People’s Financial News, March 23 — The Guangdong Provincial Development and Reform Commission has issued the “Guangdong Province Accelerating Application Scenario Innovation Work Plan.” The plan proposes increasing financial support for application scenarios. It calls for making good use of existing special funds and policy-based funds, exploring the use of fiscal funds to support the construction of innovative application scenarios through a “subsidy-reform-investment” approach.

In the science and technology innovation special fund, support will be provided for eligible technological research and development and integrated layout of application scenarios. Departments involved in open scenarios and innovative institutions are encouraged to participate in the preparation of relevant provincial science and technology project guidelines, promoting the implementation of key technologies in specific application scenarios.

An innovative government procurement cooperation mechanism will be implemented. For innovative products requiring R&D, after approval by the provincial competent department, procurement units are allowed to intervene early—first purchasing R&D services, then purchasing R&D products.

Projects that meet the criteria and are included in the national major scenario projects or our province’s benchmark scenarios will be prioritized to seek support from central funds such as central budget investments, local government special bonds, and ultra-long-term special national bonds, with some preferential treatment in transfer payments.