The Jiangsu Province Capital Increase and Production Expansion Strategic Emerging Industry Fund was launched on May 8 and is expected to provide financial support for improving industrial quality and efficiency for high-quality enterprises.
The total scale of the fund is 10 billion yuan ($1.47 billion), jointly established by the Jiangsu Province Strategic Emerging Industries Fund of Funds and 13 prefecture-level cities in Jiangsu.
In recent years, the Taixing Huangqiao Economic Development Zone in Taixing, Jiangsu, has helped enterprises further enhance competitiveness through policy support, service optimization, and other measures. Efforts include providing technical renovation subsidies and financing subsidies, revitalizing idle factories and inefficient land use, and providing full-process assistance and agency services.
"The allocation of the provincial fund this time focuses on key fields such as bio-fermentation, new energy, and high-end equipment, which are in line with the key industries of the zone," said He Qing, an official from the zone.
He added that the zone will actively seek funding support to pave the way for local enterprises to increase capital and expand production, helping them scale up, improve quality, and increase efficiency.