(Yicai) Dec. 1 -- The Shenzhen government is offering factories that upgrade their technologies subsidies of up to CNY100 million (USD14 million) for each project with the aim of helping the manufacturing sector transform all processes, from product design, production and delivery to after-sales services, to becoming digital and network-based.

Factories that invest CNY500 million (USD70.1 million) and more in key digital transformation projects will receive a 10 percent subsidy of the total investment up to a maximum of CNY100 million, according to the policy issued by the municipal government yesterday.

Manufacturers are encouraged to upgrade to high-end computer numerical control machine tools, industrial robots, intelligent sensing and control devices as well as other smart equipment, it said. The use of the latest information technologies such as the fifth-generation mobile network, internet, big data, the Internet of Things and artificial intelligence, is also welcomed.

For factories with smaller budgets, those that invest CNY10 million (USD1.4 million) or more in smart transformation projects can receive subsidies of up to 20 percent of the total investment to a maximum of CNY50 million, it added. No more than 30 percent of the subsidy should go towards outsourcing software development and R&D.

The local government is also offering subsidies to other industries, such as apparel, furniture, jewelry and public service platforms, to assist with their digitization.

Editor: Kim Taylor