Shanxi allocates funds for manufacturing development


Updated: 2023-01-18

The Shanxi Department of Industry and Information Technology will take measures this year to stimulate private investment in the manufacturing industry in North China's Shanxi province, focusing on key industrial chains, digital economy, and technical transformation. 

The department will allocate 200 million yuan ($29.50 million) in special funds for tech transformations that will guide private enterprises to invest within industrial chains.

The department plans to attract a private investment of 94.5 billion yuan for 100 key industrial chain projects, carry out 10 signing ceremonies for industrial chain cooperation, and promote the introduction and settlement of 30 projects.

In terms of digital economy development, the department will encourage and support private enterprises to participate in the construction of a "Digital Shanxi". It will arrange a 120-million-yuan fund to support the integration of industrialization and informationization, and intelligent manufacturing demonstration. A further 250 million yuan has been set aside for the construction of 5G base stations in Shanxi.

The special fund for technical transformation is said to be 108 million yuan, and it will be used to create incentives for big data enterprises, as well as to support national pilot demonstrations, excellent cases, national intelligent manufacturing benchmark enterprises, and national green data centers.