Recently, the Information Office of Shandong Provincial People’s Government held a press conference to interpret the new implementation proposals launched to promote high-quality growth of the real economy.

Proposals consist of overall requirements, major initiatives, and supporting policies. Focusing on solving major difficulties in science and technology innovation and the production and operation of enterprises, the two-pronged package of 36 policies were released to firmly safeguard high-quality growth of the real economy in 2023.

19 of the 36 policies are to increase support for enterprise innovation, in detail, mainly to further improve the R&D expense tax deduction policy, refine the R&D subsidy mechanism for science and technology enterprises, support MSMEs to upgrade to high-tech enterprises, boost the digital transformation of enterprises, promote collaboration and sharing of large scientific instruments and equipment, and strengthen financing support for scientific and innovative enterprises.

17 policies are to strengthen efforts to help enterprises solve difficulties, such as implementing a series of preferential policies on taxes and fees, supporting the cultivation of special industrial clusters of SMEs, enhancing financing support for SMEs and individual industrial and commercial households, promoting the development of business complex, boosting auto shows to expand auto sales, and intensifying resource factors guarantee for project construction, and optimizing project environmental assessment approval.

All departments throughout the province should ensure the implementation of major initiatives and policies, to enhance high-quality growth of the real economy, said Hu Bo, Deputy Director of the Provincial Development and Reform Commission, Secretary of Party Group and Director of the Provincial Energy Bureau.