Xi'an takes action to boost its industrial investment. [Photo/Xi'an municipal government's WeChat account]

The city of Xi'an, capital of Northwest China's Shaanxi province, recently rolled out a number of measures to promote effective industrial investment – as well as to further mobilize and stimulate its enthusiasm for industrial development.

The measures will come into force on Jan 1, 2023.

By replenishing existing funds and coordinating with various industry capital contributions, Xi'an will establish a 10 billion yuan ($1.41 billion) industrial multiplication guidance fund. 

Municipal-level State-owned investment platforms will set up a pillar industry special fund with a size of 5 billion yuan or more for each of the six pillar industries.

Xi'an will guide 19 key industry supply chain enterprises to establish sub-funds with various supply chain goals, with an individual scale of 3 billion yuan or more – and form a fund cluster with a total scale of 100 billion yuan or more.

The city's industrial project land transfer income will not be included in the scope of the municipal policies.

The special subsidy funds for industrial warehousing and logistics – and key projects collected at the municipal level in the land transfer income – will be mainly used to support the industrial development of districts, counties and development zones.

New special government bonds and policy-based financial instruments will be added, giving priority to supporting the construction of industrial parks in districts, counties and development zones.

Furthermore, Xi'an will encourage the joint construction of industry parks with social capital. It will also boost the carrying capacity of industrial clusters by building standardized, ready-made factories and workshops and improving park infrastructure.

In addition, the top three development zones and districts and counties that are identified in a comprehensive assessment of industrial development will be given special funding support of 30 million yuan, 20 million yuan and 10 million yuan – and 20 million yuan, 10 million yuan and 5 million yuan, respectively.