Incentives for local governments

A notice was released on Thursday to announce incentives given to local governments that carried out policies and reforms adopted by the State Council.

These regions and local governments will be given either favorable policies or funds to further boost local development. The move aimed to encourage local governments and regions to show greater enthusiasm in implementing the central government’s major policies and measures.

According to inspections conducted by the State Council, 25 provincial-level regions, 82 cities and 116 counties will be granted with 24 incentive measures for their accomplishments in major policies last year, particularly in promoting the supplyside structural reform and optimizing the business environment. The notice said the country’s business environment was improved while reforms in domestic trade flows and innovation in the service sector proceeded well.

Hebei, Jiangsu, Shandong and several other provinces, which performed well in cutting production overcapacity in steel and coal, will be rewarded. Beijing, the provinces of Hebei, Jiangsu and Jiangxi, and Shenzhen in Guangdong province showed great performance in improving basic research and promoting innovation.

The notice said a healthy financial ecosystem was established in several provinces and cities, and fixed asset investment and public-private partnerships also saw good results.

Cities in Liaoning, Jilin, Jiangsu and Zhejiang provinces showcased outstanding performance in industrial transformation and strategic emerging industries, in part of pushing forward the national strategy of Made in China 2025.

Anhui, Jiangxi, Sichuan and some other provinces and autonomous regions were named and will be awarded for their efforts in poverty alleviation by efficiently relocating poor populations, renovating shantytowns and conducting favorable employment policies.