HAIKOU /China/, July 5. /TASS/. The authorities of the southern Chinese province of Hainan will provide promising agricultural enterprises with incentive subsidies of up to 10 million yuan ($1.4 million at the current exchange rate), Hainan Daily reported.
Earlier, it was reported that Hainan's Department of Agriculture and Rural Affairs, together with the provincial finance department, issued rules to regulate the operation of the funds, which will be used to promote the intensive development of the region's seed and breeding industries. In particular, the awards are intended for companies that implement important projects in the field of germplasm storage and utilization, engaged in the development of new varieties of agricultural products and the introduction of scientific and technological developments for production purposes.
According to the newspaper, the subsidies will be granted to market entities operating in such areas as crop production, livestock and poultry farming, and fishing. The measure is expected to accelerate the formation of a selective breeding "Silicon Valley" in Hainan.
High-tech and fast-growing agricultural enterprises can receive payments of up to 10 million yuan. Companies listed as leading enterprises in the national seed industry after 2022 will receive up to 5 million yuan ($700,000).
According to published data, organizations that import germplasm or certain varieties of products into Hainan for introduction into local agriculture can receive up to 800,000 yuan (approximately $112,000). The same applies to companies whose special status in the field of seed breeding and selection has first been confirmed by the competent authorities of the PRC at the national level. For the development of new varieties of plants, including rice, the company is entitled to up to 3 million yuan (approximately $420,000). Up to 1 million yuan ($140,000) will be given to market units that contribute to the popularization of insufficiently known breeding products.
Hainan plays an important role in research and production activities to improve yields and develop new varieties of many plants. There is a solid seed cluster in Sanya City, which is expected to become a breeding "Silicon Valley" of China in the future. Provincial authorities are actively promoting international projects in this field, constantly organizing exhibitions and conferences with the participation of leading specialists from all over the world, including Russia.