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Recently, the Ministry of Finance and the Ministry of Industry and Information Technology jointly issued the “Management Measures for Subsidies for the Development of the National Internet of Things and Rare Earth Industry”, clarifying the scope of support for subsidy funds and the different methods of support for different contents. This subsidy fund is arranged by the central government budget and is specifically used to support technological innovation in the Internet of Things and rare earth industries, as well as the healthy development of the industry. According to the Management Measures, the subsidy funds will support the research and industrialization projects of key core technologies, common technologies, and key products of the Internet of Things; Supporting pilot demonstration projects for IoT applications and the construction of IoT industry bases;

Support research on standard systems, development of key technical standards, development of coding standards, and development of several application standards, as well as standard validation, testing, and simulation research and development projects; In addition, it will also support the construction of IoT public service platforms for the purpose of promoting the verification and testing of common technologies in animal networking, intellectual property protection, industry university research cooperation, information services, and other purposes; And support the construction of national IoT innovation demonstration zones, including the research and development, standard development, industrialization, and application of key IoT core technologies within the demonstration zones.

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At the same time, the “Management Measures” stipulate that subsidy funds support the development of the Internet of Things through project subsidies and quota subsidies. For projects such as technology research and industrialization, application demonstration and promotion, standard research and formulation, and public service platform construction, project subsidies will be adopted, and the subsidy amount shall not exceed 30% of the total project investment in principle. For the construction of national level IoT innovation demonstration zones, a quota subsidy method is adopted, and the annual support fund amount is determined by the Ministry of Finance and the Ministry of Industry and Information Technology, and allocated in blocks to the provinces (districts, cities) where the demonstration zones are located. The management of fund use is implemented by local finance, industry, and information technology authorities in accordance with this method.

The national IoT subsidy adopts project subsidy and quota subsidy methods, and the radio frequency identification technology website

In addition, the “Management Measures” clearly state that subsidy funds shall not be used for the daily work expenses of departments (units). Projects that have already received central government funding support through other channels will no longer receive duplicate support. The same enterprise shall not apply for subsidies for high-end application technology research and development and high-end application technology industrialization separately for the same project in the same year.

Radio Frequency Identification Technology
Radio Frequency Identification Technology

The development of the National Internet of Things is of great significance for China’s technological innovation and industrial upgrading. By adopting project subsidies and quota subsidies, it can help promote the research and application of animal networking technology, promote the healthy development of industries, and provide strong support for China’s economic transformation and upgrading. I hope this subsidy policy can be effectively implemented to promote the vigorous development of China’s Internet of Things industry.

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