According to the provincial finance department, Shandong is currently focusing on the innovation of financial system to build a more dynamic industrial development mechanism. The province has set up an incentive mechanism for the pacemaker of industrial parks, which will give a reward of 10 to 30 million yuan per mu in tax contribution according to evaluation results.
Shandong has also piloted the circular economy to build a greener industrial development model. The central has allocated 676 million yuan to support four economic and technological development zones in Yantai, Linyi, Rizhao and Weifang, in carrying out cyclic transformation, as well as the construction of Linyi Jinsheng Non-ferrous metal Industrial base and Yantai Resource Recycling and Processing Demonstration Park.
Through the construction of characteristic carriers in entrepreneurship and innovation, Shandong is on the way of building a more flexible industrial development pattern. At present, the province has pooled 449 million yuan to achieve this goal.
The province will also build a more open industrial development ecology via attracting and utilizing foreign investment. Take the incentive policy for open platforms for example, for the first batch of provincially recognized international cooperation parks, the provincial finance will give subsidies or rewards of 50 million yuan; For the development zones at or above provincial level that rank top 10 in the annual increment of actual use of foreign capital, the provincial finance will reward 5 million yuan. For leading development zones that rank top 5 in the annual comprehensive evaluation, the provincial finance will reward 5 million yuan.
