Chongqing- According to a press conference on January 3, Southwest China's Chongqing Municipality released the third edition of its policy package for stabilizing the economy. 

About 40 policy measures in 11 categories

The document contains about 40 policy measures in 11 categories, covering investment, fiscal policy, finance, consumption, industries, technological innovation, digital transformation, market entity, opening-up, risk prevention and resolution, as well as people's livelihood. 

According to Mi Benjia, deputy director of the Chongqing Development and Reform Commission, this policy document will be grouped and itemized with quantitative goals primarily for 2023.

Chongqing released the third edition of its policy package for stabilizing the economy on January 3. (Graphics/ Chen Zhan)

For example, the investment policy is guided by the Chongqing special action investment plan. It is subdivided into nine industry investment programs: industry, transportation, energy, water conservancy, new infrastructure, agriculture, and rural areas. 

The list of major municipal projects in 2023 has been drawn up to attract 400 billion yuan of investment and drive the city's investment of more than 1 trillion yuan, said Mi.

Policy for boosting Chongqing's industrial economy

A series of key policy documents were released at the press conference, including supportive policies for market entities and directional policies for economic development. 

"To boost market confidence and expand market players, these policies are essential to stabilize the economy," said Mi. 

Information on the policy for boosting Chongqing's industrial economy. (Graphics/ Chen Zhan)

Among them, the policy for boosting Chongqing's industrial economy is one example, which was formulated by the Chongqing Municipal Economic and Information Technology Commission, and will be implemented soon. 

According to Yang Zhenghua, deputy director of the Chongqing Municipal Economic and Information Technology Commission, the policy focuses on supporting two trillion-level industrial clusters of intelligent networked vehicles and electronic manufacturing. 

Meanwhile, it should promote the transformation of industries, such as equipment and consumer goods, and cultivate the characteristics of industrial clusters like intelligent equipment and cutting-edge materials. 

For instance, Chongqing will support enterprises in building intelligent networked vehicle data platforms and application scenarios. Chongqing will also develop core supporting products, such as intelligent vehicle control, with subsidies ranging from three million to eight million yuan.

Creating new growth points, Chongqing will promote the innovation and development of high-growth industries, including biomedicine and software information. 

A reward of one million to five million yuan will be given to reward chemical medicines, traditional Chinese medicines, and medical devices approved for new production registration.