The Qingdao Municipal Government recently held a routine policy briefing to introduce support policies on canvassing business and introducing investment through enterprises and societal forces. Compared with old policies, the latest ones present new features in terms of supporting intensity, targets and categories.

In regard to funding support for newly introduced projects, the maximum funding support for a single referee has been raised to RMB20mln, a big surge from the previous RMB5mln and an advanced level among Chinese peer cities.

The newly-released policies are innovative in that they highlight the role of “chain master” enterprises in canvassing business and introducing investment and lay more stress on introducing important auxiliary projects that align with 24 key industry chains in Qingdao, in a bid to genuinely translate business resources into the real economy. The policies stipulate that 0.6% of the fixed asset investment amount will be granted to the referee who helps to introduce a new project and have it materialized. 1.2 times of the above standard will apply to auxiliary projects introduced by “chain master” enterprises. Such funding support is rarely seen among Chinese peer cities. (Sun Xin)