Shandong Province published the 2023 List of Policies for Steady Growth and Improved Performance (First Batch), which provides a package of incentive measures to optimize supply and boost demand.

According to the policy list, cities ranking first in the growth rates of industrial added value above designated size and of the investment in industrial technological transformation above designated size in 2023 will be given a one-time reward of up to 5 million yuan, which will be specially used for industrial operation and technological transformation to further promote the high-quality development of the industrial economy. For innovative drug R&D projects that transform innovative drugs in the province and complete phase I, II, and III clinical trials, financial support of up to 10 million yuan, 20 million yuan, and 30 million yuan will be given according to the proportion of R&D investment respectively, and each enterprise can be financed with a maximum amount of 100 million yuan each year. In addition, the province will make efforts to cultivate and support key enterprises, accelerate the growth of leading enterprises and high-quality enterprises to give full play to their demonstration, leading and supporting roles, and add strong impetus to high-quality economic development. Furthermore, large-scale promotional activities will be held in key areas such as automobiles, home appliances, and catering, and cities will be encouraged to reward enterprises with consumption-led innovative models, creative activities, and outstanding contributions to the growth of the consumer market.