More favorable policy support is required to accelerate the building of a new high-quality and efficient system for the service industry. According to the newly printed and issued Several Policy Measures of Qingdao on Advancing High-quality development of the Service Industry (hereinafter referred to as Several Policy Measures), Qingdao will prioritize supporting the building of key projects in the service industry, helping platform enterprises in the service industry to gain strength and cultivating industry-leading enterprises in the productive service industry to roll out policies on financial support, and put in real money to facilitate high-quality development of Qingdao’s service sector in all respects. According to the document, which is valid for three years, about RMB 50 mln will be injected annually.

Qingdao will support the building of key projects in the service industry. In 2024, a total of 61 projects in Qingdao have made the list of provincial level key projects in the modern service sector, 185 key projects under construction and 44 key backup projects have been included among municipal level key projects in the service industry. Qingdao will strive for provincial financial support for these projects that have ranked among provincial level key projects in the modern service sector. To support these projects that have made the list of municipal level key projects and are eligible in terms of construction scheduling, Qingdao will launch assessments of their fixed asset investment and construction scheduling, and offer according to regulations subsidies from the municipal level finance, which annually injects RMB 10 mln.

Qingdao will help platform enterprises in the service industry to gain strength. According to the Several Policy Measures, assessments will be made on these enterprises that rank among municipal level platform enterprises in the service industry in regard to their economic and social contribution, financial capacity and job creation among other indicators, an annual RMB 10 mln municipal level financial support is earmarked for offering subsidies in accordance with regulations.  (Fu Jun)