Jinan City Implements 14 Measures to Boost Service Industry Development
JINAN, China – In a bid to accelerate the development of its service industry, Jinan City in Shandong province has recently released “Several Policies for Accelerating the Development of Service Industry in Jinan City,” comprising a total of 14 measures. These policies aim to promote high-quality growth in the city’s service sector by focusing on cultivating market players, enhancing carrier platforms, encouraging innovative business models, and improving support and guarantee systems.
Yang Xingcai, a leading cadre at the deputy bureau level and a member of the party group of the Jinan Development and Reform Commission, highlighted the significance of these policies. He mentioned that the measures are designed to reward and support the growth of key companies, facilitate the construction of carrier platforms, promote innovative development in the industry, and bolster the support system.
The first part of the policies focuses on cultivating and strengthening market players. It includes rewards for companies’ compliance with regulations and a one-time reward of 100,000 yuan ($15,440) for new enterprises that have been in operation for two consecutive years. Service companies experiencing a revenue growth rate exceeding 20% in the second year will receive an additional 50,000 yuan ($7,720) reward. Moreover, enterprises in key industries ranking in the top 10 by revenue and surpassing the industry’s average growth rate will be rewarded with 200,000 yuan ($30,880).
The second part of the policies aims to promote the construction of carrier platforms. Newly approved provincial-level modern service industry clusters will be awarded a one-time reward of 200,000 yuan ($30,880) to encourage the development of service industry clusters. Additionally, newly approved national, provincial, and municipal advertising industry parks will receive rewards of 1 million yuan ($154,400), 200,000 yuan ($30,880), and 100,000 yuan ($15,440) respectively. Newly approved provincial-level service industry innovation centers will also be given a one-time reward of 200,000 yuan ($30,880) to encourage investment in innovation and research and development.
The third part of the policies emphasizes the need to promote innovative business models. Financial rewards ranging from 200,000 to 1 million yuan ($30,880 to $154,400) will be provided to newly approved pilot areas or enterprises engaged in the integrated development of advanced manufacturing and modern service industries at national and provincial levels. The policies also encourage the cultivation of new consumption formats and innovation in the employment service model, including supporting shared employment among enterprises and incorporating the sharing of employment positions into the scope of public employment services.
Lastly, the policies outline measures to improve the support and guarantee system for the service industry, including increased financial support, land supply, guidance for industry self-discipline, and enhanced policy implementation.
These policies demonstrate the government’s commitment to fostering a favorable environment for the growth of the service industry. They are expected to stimulate new momentum for economic development in Jinan City.
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