Investment promotion funds boost Shenyang’s industrial development

Shenyang has received around 3.14 billion yuan ($441.4 million) (out of a planned 10 billion) to help attract investment, according to information from the Shenyang Municipal People’s Government released on Sept 6.

The Shenyang government set up the 10-billion-yuan fund in early 2018 to support the development of small and medium-sized enterprises, strategic emerging industries, infrastructure construction, and public services.

Over the course of a year and a half, the system for funding investment promotions has gradually matured and the government has established a number of sub-funds, including the Integrated Circuit (IC) Fund, Sino-German Industrial Investment Fund, and Jingxiuyuan Environmental Protection Fund.

The government is considering setting up funds for intelligent manufacturing, technological innovation, biomedicine, general aviation, environmental protection, agriculture, culture, and more.

The move is meant to help improve the industrial structure of Shenyang and better commercialize key scientific research and technology.