Zhumadian unveils measures to stimulate the new energy battery industry

    Summary: To boost the development of the new energy battery industry chain, Zhumadian City of Henan Province introduced supporting measures.   

    On March 6, 2023, the Office of the People's Government of Zhumadian City, Henan Province issued a notice on the publication of Ten Measures on Promoting the Development of the New Energy Battery Industry Chain, which includes specific measures focusing on six aspects:   

    1) Emphasis will be put on attracting investment on major projects. Under guidance of "One issue, One discussion" and "One firm, One countermeasure", key supports in terms of using land, energy, electricity and natural gas will be accessible to key enterprises and projects featured with a total investment of not less than USD288.18 million (RMB2 billion) and with an investment intensity of not less than RMB6 million/mu. In the meanwhile, projects that cover land of less than 50 mu with an investment intensity of less than RMB3.60 million/mu are encouraged to be settled in standard plants.   

    2) Greater efforts will be provided for completing projects up to capacity. In order to reduce estimated costs of building projects with capacity up to standard, and to encourage enterprises to commercialize advanced equipment, faster moves will be made to reach designed capacity for mutual benefits.   

    3) Much importance will be attached to development of the whole industrial chain. Favorable policies will be weighted towards and guarantees provided for energy consumption in the production of lithium cathode & anode material, electrolyte, and Li-ion battery, power battery recycling and other major projects that boast energy efficiency up to the advanced industrial level.   

    4) Further steps will be taken to promote sci-tech innovation. Due to the essential role of talent and platform playing in sci-tech innovation, financial and talent support will be rendered to key generic technologies used in areas including power battery recycling and production of high specific energy battery, solid-state battery, lithium battery, and key materials for sodium battery, or to the establishment of national & provincial-level platforms that facilitate enterprises' sci-tech innovation.   

    5) Efforts will be strengthened to support investment and financing. The Government will provide supports in Industry Investment Fund and enterprises' funding for IPO.   

    6) Comprehensive actions will be taken to ensure sound development of the industry. With adhering to high-quality, overall-and-sustainable development orientation, the Government should ensure departments at all levels to assume responsibilities of implementing policies and advancing the industry, which require highly effective work instead of "a rush" or unskilled duplication of construction in order to prevent the intensification of overcapacity.   

    The Ten Measures will come into effect from the date of publication and will be valid for three years, and adjustments will be made on this document according to relevant reorientation of national or provincial policies.