Airport New City: Policies for economic recovery     Updated: 2020-02-25

The management committee of Airport New City in Xixian New Area, Xi'an, capital of Northwest China's Shaanxi province, has put forward ten measures to guide its economic development while ensuring the prevention and control of the COVID-19 epidemic.

These measures include supporting the development of the aviation logistics industry, increasing investment in key projects, accelerating the cultivation of the biopharmaceutical industry, subsidizing small and medium-sized business services, reducing corporate financing costs, and strengthening both epidemic prevention materials and energy security.

For the civil aviation enterprises that register their national headquarters and branches in Airport New City, the income tax and value-added tax paid in February, March and April will be fully subsidized, not exceeding 1 million yuan ($140,065.83) for each enterprise.

For social investment projects at Airport New City in 2020 which resumed or first began construction before March 31, ten percent of the fixed asset investment amount in the first quarter will be subsidized, with the amount of no more than 1 million yuan.

The city encourages enterprises to maintain research, development and production of therapeutic vaccines and testing reagents related to epidemic prevention and control.

In terms of technological transformation and production capacity improvement projects being implemented by key epidemic prevention and control material enterprises, the core equipment purchased by them shall be subsidized at ten percent of the fixed asset investment amount, not exceeding 5 million yuan.