The Luohu district government pledged to invest 1 billion yuan ($149 million) to boost industrial development, as announced during a biweekly news conference held on June 9.
The government also released detailed regulations on how the fund will be spent to attract companies and talent and enhance innovations.
The key sectors Luohu intends to fund are the information, health, digital innovation, finance, trade, and service industries.
Not only big companies but also competitive small- and medium-sized enterprises are welcome in the district, for which Luohu has rolled out special supporting policies to bolster their growth.
In addition, Luohu is now trying its best to improve its business environment and government services to develop more favorable conditions for the development of the enterprises.