China's 2011 Import Interest Subsidy Filing Closes May 10: Printing and Packaging Equipment Among Eligible Categories

China's Ministry of Finance posted the Notice on Doing a Good Job in the Application for 2011 Import Interest Subsidy Funds (Cai Qi [2011] No. 62) on its website on April 14. Under the notice, local finance and commerce authorities, along with centrally administered enterprises, must finish joint review and consolidation of import interest subsidy application materials for their regions and organizations by May 10, then submit them to the Ministry of Finance and the Ministry of Commerce.

The notice lays down three hard requirements for applicants. First, applications must be filed in line with the Interim Measures for the Administration of Import Interest Subsidy Funds and the Catalogue of Encouraged Imported Technologies and Products (2009 Edition). Second, the technology or product receiving support must have completed import customs clearance (for products), or have obtained a bank-issued foreign exchange payment voucher (for technologies), at some point between January 1, 2010 and December 31, 2010. Third, an enterprise may not apply for the same subsidy funds more than once. The Catalogue covers 3 types of printing equipment and 2 types of packaging equipment, so printing enterprises that import such equipment and satisfy the remaining conditions are eligible to apply.

Several provisions in this year's notice differ from previous years and deserve attention. To sharpen the guiding role of fiscal funds, the interest subsidy for a single enterprise has been capped at RMB 30 million. The Catalogue of Encouraged Imported Technologies and Products (2009 Edition) is also being revised; should the 2011 Edition be published before April 30, applications must all be filed under the new Catalogue. In addition, to carry out the central government's requirement to support Xinjiang's leapfrog development, support for import interest subsidies in Xinjiang will be increased, with a separate notice to follow.

Enterprises should keep two points in mind when filling out the materials. Where the Catalogue sets technical parameter requirements for an imported product, the actual parameters for that product must be entered in the "Commodity Technical Specifications" column, with the page numbers of those parameters in the attached materials noted. For enterprises applying for interest subsidies on technology imports, the applicant entity has, since 2009, changed from the foreign exchange payment unit specified in the Measures to the technology user named on the Technology Import Contract Registration Certificate.

— This article is reposted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-362128.html