East China’s Anhui province will take a slew of measures to shore up its industrial economy, according to an action plan released recently by 12 government departments.
The plan put forward 31 measures, covering areas like tax reduction, financial support, and supply guarantee, to continuously stabilize the industrial economy, boost the confidence of market players, and raise the quality, quantity and efficiency of industry.
Industrial firms with annual turnover over 20 million yuan ($3.1 million) in the province posted a year-on-year increase of 8.8 percent in value-added output in the first two months of 2022, higher than the national average of 7.5 percent, official data showed.
More businesses will enjoy tax cuts, according to the plan.
Banks will increase support for strategic emerging industries, sci-tech enterprises, agricultural companies, small and micro businesses, and private enterprises, the plan said.
The province will establish a tiered electric pricing system for industries with high energy consumption and a commodity price monitoring and reporting system. It will also speed up mine projects to guarantee the supply of energy and resources.
The plan also stipulated measures to stabilize investment in industry and guarantee production elements.