In order to give play to the support and guidance role of the fiscal interest subsidy policy, the Ministry of Finance has recently formulated the Measures for the Administration of Subsidies on Central Government Interest Subsidies for Infrastructure Infrastructure Projects in National Economic and Technological Development Zones and National Border Economic Cooperation Zones.
The development zones mentioned in these Measures include the state-level border economic cooperation zones, the state-level economic and technological development zones, the Suzhou Industrial Park, and other development zones that the State Council requires to support.
According to the measures, the discount interest funds shall be paid in advance and posted, that is, the project unit must apply for discount interest to the financial department on the basis of the interest payment certificate issued by the lending bank or other financial institution. The interest on overdue loans, interest rates, and penalties that are not returned according to the contract shall not be discounted.
According to the Measures, the central government will give priority to interest subsidies for development zones in western regions, strategic emerging industries and independent innovation. The Ministry of Finance determines the discount rate based on the annual discount fund budget control indicators and the status of the discount interest fund submissions for the current year, and the highest one does not exceed the benchmark interest rate of the People's Bank of China for the same period in the current year.
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