On May 14, the Information Office of the People's Government of Shandong Province held a routine briefing on the policies of the provincial government and interpreted the List of Policies for Promoting Economic Consolidation and Improvement and Accelerating Green, Low-carbon and High-quality Development in 2024 (Second Batch). Shandong has further refined relevant policies in key industries, high-quality enterprises, innovative products and supply-demand matchmaking.

Shandong will take traditional industries as a breakthrough to encourage the renovation and transformation of production equipment and energy-consuming equipment. For these enterprises, a subsidy of 5 million yuan maximum will be provided at a proportion of no more than 10% according to their expenditure on equipment purchase. Shandong will allocate 265 million yuan to support enterprises that undertake key technological transformation projects, industrial Internet development and application projects, and key digital economy projects through equity investment. Shandong will focus on key areas such as medical equipment and smart home appliance, sort out a supply list of high-quality equipment and industrial software by industry, and actively recommend them to be included in the national promotion catalogue.