The output value of private industrial companies above designated size in Zhoushan, East China's Zhejiang province soared 106 percent year-on-year to 65.15 billion yuan ($9.56 billion) in the first seven months of this year, local media reported.

The increase can be largely attributed to measures taken by the Zhoushan municipal government.

The local government has rolled out 18 measures to support the financial service industry, nine measures to provide micro- and small-sized companies with financial support, and seven measures to boost high-quality development of local industries.

As of the end of August, Zhoushan had exempted 19,849 companies from social insurance fees worth 687 million yuan and refunded 131 million yuan in unemployment insurance to 12,377 companies.

Zhoushan has encouraged local financial institutions to reduce their loan rate by 10 percent and has waived interest for companies receiving science and innovation funds.

Moreover, the Zhoushan government also established a comprehensive financial service platform, which has been connected to the national and provincial financial service platforms.

To date, 2,592 companies have obtained 5.75 billion yuan worth of financing through the platform.