All relevant units:

The declaration of the central import discount interest subsidy has started since the launch day of this announcement. Please send relevant materials to the Shanghai Municipal Commission of Commerce before Aug 5. Overdue materials will not be handled after the deadline.

Ⅰ.Application conditions

1. Products imported through general trade or border trade listed on the 2016 version of the catalogue of products and technologies encouraged to be imported (hereinafter referred to as the catalogue) by the National Development and Reform Commission, the Ministry of Finance, and the Ministry of Commerce, or technologies imported listed in the catalogue from non-affiliated enterprises.

2. Applicants submitting declarations should be the receiving or using unit on imported goods, or the technical using unit on the technology import contract registration certificate for imported technologies.

3. Import products applying for the import discount interest subsidy should complete import declaration from July 1, 2018 to June 30, 2019 (subject to the customs clearance date). Import technologies applying for the import discount interest subsidy should execute the contract and obtain the payment certificate issued by the bank from July 1, 2018 to June 30, 2019.

4. The technology import contract does not contain any provisions that violate the Rules of the People's Republic of China on the Administration of Technology Import and Export (Order No 331 of the State Council).

5. The import of equipment under "key industries encouraged to develop" in the catalogue and is not included in the Catalogue of Imported Goods Not Eligible for Tariff Exemption for Domestic-Funded Projects (2012 Edition) can apply for the import discount interest subsidy.

6. The total amount of imported products and technologies that meet the above conditions shall be no less than $500,000.

Ⅱ. Supporting methods

The import discount interest subsidy will be given for imported products and technologies meeting the requirements listed above through discounts. The discount standard is as follows:

1. Principal of the import discount interest subsidy is calculated by multiplying the import of the technology or product by the exchange rate of renminbi (RMB). The exchange rate of the declared project shall be calculated based on the central rate of RMB exchange rate published by the People's Bank of China on June 30, 2019.

2. The import interest discount subsidy rate is no more than the latest benchmark interest rate of one-year RMB loans published by the People's Bank of China on June 30, 2019.

3. The amount of the import interest discount subsidy is calculated by the principal of the import discount interest subsidy multiplied by the import interest discount subsidy rate, and the amount for each enterprise shall not exceed 60 million yuan ($8.49 million).