The Industry and Information Technology Department of Fujian Province, in collaboration with the Fujian Provincial Department of Finance, has recently revised and issued the Incentive Measures for Productive Applications of the Initial Batch of Key New Materials in Fujian Province (hereinafter referred to as the Incentive Measures). These measures include lowering the benefit threshold for enterprises, establishing gradient reward standards, and adding support for new material innovation iteration. The goal is to promote the transformation and upgrading of traditional industries, foster the development of strategic emerging industries, and support accelerated research, innovation breakthroughs, and industrial application demonstrations of new materials.

The term “New Materials” as mentioned in the Incentive Measures, refers to materials that have recently emerged with superior performance and special functions, or traditional materials whose performance has been significantly improved or have acquired new functions after modification. The term "Initial Batch of Key New Materials" refers to new material products produced and sold by manufacturing enterprises that meet the criteria set out in the Guidance Catalog for Initial Batch Application Demonstration of Key New Materials issued by the Ministry of Industry and Information Technology (hereinafter referred to as the Guidance Catalog) or the Support Reference Catalog for Productive Applications of the Initial Batch of Key New Materials in Fujian Province issued by the Industry and Information Technology Department of Fujian Province (hereinafter referred to as the Support Reference Catalog), as well as that satisfy the criteria outlined in this Incentive Measures.

To promote the gradient development of industries, encourage more enterprises to lead through innovation, and introduce more new material products into the national directory, the Incentive Measures have been adjusted to increase the highest reward standards based on the directory level. The original reward standard of "rewarded at a rate not exceeding 5% of the total sales of a single key new material product in the previous year, with a maximum of RMB 2 million per enterprise" has been changed to "rewarded at a rate not exceeding 5% of the total sales of key new material products in the previous year. Enterprises that meet the criteria outlined in the Guidance Catalog can receive up to RMB 3 million in rewards, while those that meet the criteria outlined in the Support Reference Catalog can receive up to RMB 2 million”.