Kunming, capital of southwest China's Yunnan province, is set to introduce a 24 favorable policy measures to spur its economic growth this year.
The measures cover seven major fields such as investment, consumption, the industrial economy and service sector.
This year, about 300 projects worth over 100 million yuan($15.83 million) are scheduled to be built in the city. With regard to the supply of investment resources, the local government will complete 20,000 mu (about1,333 hectares) of land reserves and guarantee a supply of land totaling no less than 30,000 mu.
Kunming will intensify its efforts to boost the growth volume of its industrial sector, expand and consolidate industrial chains, strengthen the integration between information and industrial development, and facilitate the building of a green manufacturing system.
A special initiative is expected to be adopted to foster over 100 industrial firms with annual revenues of more than 20 million yuan and attract 3 to 5 leading industrial and information projects worth over five billion yuan.
A fund of 10 million yuan will be launched to reward those who successfully roll out industrial chains.
Manufacturers of passenger vehicles and other types of automobiles powered by new energy will receive financial assistance ranging from one million yuan to two million yuan.
Kunming will create a special fund of one billion yuan to support the building of major cultural and tourism projects.
Large firms are being encouraged to set up core functional departments such as clearance, sales, investment, and research & investment in Kunming in a move to nurture more market entities. An award worth five million yuan at most will be presented to listed firms who locate their headquarters and operate their main business in Kunming.
In addition, the city will continue to improve its business environment, expand the scope of its opening-up, and grant support to entrepreneurship, as well as innovation, in a drive to inject more vitality into its economic growth.
Those who have founded national-level and provincial-level entrepreneurship incubation bases will be rewarded with 300,000 yuan and 200,000 yuan, respectively.
