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Putuo publishes measures to stabilize economy

Updated : 2022-06-24 (chinadaily.com.cn)

Putuo district in Zhoushan, East China's Zhejiang province, recently rolled out 56 measures to stabilize local economy.

The district will increase the application fields of special bonds and it is expected to reserve more than 3 billion yuan ($447.83 million) for these bonds this year.

Manufacturing businesses that seek digital transformation will enjoy a subsidy equivalent to 30 percent of their investment in software and relevant equipment from the district government.

Putuo will accelerate the construction of the 28 ongoing transportation projects, finish the upgrading and transformation of 173 old residential buildings, and renovate 103 dilapidated buildings this year.

The district will also boost the recovery of sea transportation and fishery industries and support the expansion of deep-sea fishing industry.

Fishery enterprises will receive a subsidy of 300,000 yuan for each deep-sea fishing vessel bought by them .Those fishery enterprises that start operating in Zhoushan from other cities and are qualified for deep-sea fishing will be subsidized a maximum of 3 million yuan based on their scale.

The district will also roll out more measures to shore up the confidence of tourism industry and ease the financial pressure on construction and real estate businesses.