The Sichuan Provincial Department of Economy and Information Technology and the Sichuan Provincial Department of Finance have jointly issued the Implementation Plan for Empowerment Vouchers for Enterprises on the Sichuan "Specialized, Refined, Differentiated and Innovative" Board, officially rolling out the empowerment voucher program.

The empowerment voucher is a inclusive policy instrument designed to support enterprises in purchasing services during their standardized cultivation on the Sichuan Provincial Regional Equity Market's "Specialized, Refined, Differentiated and Innovative" Board (hereinafter referred to as the Sichuan "Specialized, Refined, Differentiated and Innovative" Board). In simple terms, it is an electronic "cash voucher" that can offset service fees for board enterprises. It is issued directly to board enterprises in electronic form, is universally applicable and redeemable across the province, and is subject to an annual total amount control with a first-come, first-served basis until funds are exhausted.

After an enterprise receives services within the prescribed scope provided by institutions included in the Sichuan "Specialized, Refined, Differentiated and Innovative" Board service institution database, it may use the empowerment voucher to offset service fees as agreed, and the service institution will then apply for fund reimbursement through the prescribed procedures.

The Plan specifies that each enterprise may apply for an empowerment voucher once per year. Newly enrolled enterprises in the current year have an annual application limit of 80,000 yuan, while enterprises enrolled in previous years have an annual application limit of 50,000 yuan. The empowerment voucher is valid for the current year (calendar year) after issuance and is uniformly redeemed each year. It is limited to application and use by board enterprises only and may not be transferred, gifted, bought or sold, pledged, or lent.

Scope of Use

The use of empowerment vouchers covers four key stages: board enrollment services, standardized governance services, financing consulting services, and IPO cultivation services. These include service fees for enterprises entering the Sichuan "Specialized, Refined, Differentiated and Innovative" Board, equity (share) registration and custody service fees, fees for board enterprises purchasing standardized governance training, policy consulting, and other services, fees for purchasing financing consulting services, and fees for purchasing services such as joint-stock reform, equity incentives, IPO diagnosis and valuation, IPO pathway planning, green channel for New Third Board listing, and IPO-themed training, providing comprehensive support for enterprises advancing to higher-level capital markets.

What Is the "Specialized, Refined, Differentiated and Innovative" Board?

The "Specialized, Refined, Differentiated and Innovative" Board is an important platform for the capital market to cultivate small and medium-sized enterprises in a tiered manner toward specialized, refined, differentiated, and innovative development. In 2022, the Guiding Opinions on High-Quality Construction of the "Specialized, Refined, Differentiated and Innovative" Board in Regional Equity Markets was issued, further unblocking channels for specialized, refined, differentiated, and innovative small and medium-sized enterprises to connect with the capital market. On July 16, 2026, the Sichuan "Specialized, Refined, Differentiated and Innovative" Board was officially launched, with a first batch of 132 enterprises enrolled, transitioning into normalized operations.

A representative from the Tianfu Equity Exchange Center, the entity responsible for constructing and operating the Sichuan "Specialized, Refined, Differentiated and Innovative" Board, introduced that the first batch of enrolled enterprises has adopted a dedicated liaison "one-on-one" connection mechanism. Through board-specific presentations, business coaching, enterprise visits and seminars, and other forms, the center continuously assesses enterprises' needs in corporate governance, financing connection, IPO cultivation, and other areas, providing categorized services on demand to achieve precise enterprise tiering, precise demand matching, and precise service delivery.

Why Launch Empowerment Vouchers?

"The launch of empowerment vouchers, through a combination of government subsidies and market-oriented services, will further support specialized, refined, differentiated, and innovative small and medium-sized enterprises in utilizing the platform resources of the Sichuan regional equity market and the professional services of service institutions to enhance their competitiveness," said a representative from the Industrial Finance Division of the Sichuan Provincial Department of Economy and Information Technology. This is another powerful measure by Sichuan to support enterprises in "reaching scale, making lists, moving to the cloud, and going public."

"The board helps growing specialized, refined, differentiated, and innovative enterprises further activate market resources and effectively reduces the cost of connecting with the capital market," said Feng Renyuan, Board Secretary of Chengdu Shuzhilian Technology Co., Ltd., one of the first batch of enrolled enterprises. With the empowerment vouchers, enterprises will actively link platform consulting, diagnosis, investment and financing, and other resources to accelerate their embrace of the capital market.

How to Apply for and Redeem Empowerment Vouchers

Account Registration

1. The Department of Economy and Information Technology will push the list of board enterprises and the list of service institutions (including service content, fee standards, etc.) to the Provincial Enterprise Development Promotion Center.

2. Board enterprises and service institutions log in to the "Sichuan Provincial Enterprise Public Service Cloud Platform" — the "'Specialized, Refined, Differentiated and Innovative' Board Enterprise Empowerment Voucher Service Zone" to register.

3. The Provincial Enterprise Development Promotion Center reviews and confirms the relevant information of board enterprises and service institutions that apply for registration.

Application and Use of Empowerment Vouchers

1. Board enterprises log in to the "'Specialized, Refined, Differentiated and Innovative' Board Enterprise Empowerment Voucher Service Zone" and submit relevant supporting materials to apply for empowerment vouchers.

2. After review and approval by the Provincial Enterprise Development Promotion Center, the empowerment vouchers are issued to the registered enterprise accounts.

3. After board enterprises receive services provided by service institutions in the "'Specialized, Refined, Differentiated and Innovative' Board Service Institution Database," they use empowerment vouchers to offset service fees as agreed.

Redemption of Empowerment Vouchers

1. Service institutions compile the completed service information, submit an empowerment voucher redemption application through the "'Specialized, Refined, Differentiated and Innovative' Board Enterprise Empowerment Voucher Service Zone," and provide relevant supporting materials.

2. The Provincial Enterprise Development Promotion Center conducts a preliminary review of the redemption applications and supporting materials submitted by service institutions.

3. The Department of Economy and Information Technology organizes evaluation, public announcement, verification, and other work through prescribed procedures.

4. Fund disbursement. For empowerment voucher redemption applications with no objections after public announcement, the Department of Economy and Information Technology completes fund disbursement to service institutions after reporting and approval through prescribed procedures.