Jinan, capital of East China's Shandong province [Photo by Cui Jian/Jinan Daily]

Jinan, capital of East China's Shandong province, will increase its financial support for the development of the city's industrial internet, according to newly-released subsidy policies for the Jinan Industrial Internet Innovation and Development Action Plan (2020-22).

The local government will provide financial awards of up to 20 million yuan ($3.06 million) to the newly recognized national cross-industry or cross-field industrial internet platforms.

The financial support covers industrial internet platforms, industrial internet application,"5G Plus industrial internet" construction, industrial internet research and development, and public service systems for the industrial internet industry.

A reward of up to 100,000 yuan will be given to the excellent industrial internet application solutions at the municipal level.

For newly identified industrial internet platforms, subsidies equal to up to 30 percent of the total investment in the platform's development will be given out, with a maximum of 3 million yuan per recipient.

Financial subsidies of 30 percent, 20 percent and 10 percent of the actual investment will be given to the newly recognized industrial internet public service platforms at the national, provincial, and municipal levels, respectively, with the maximum subsidies per recipient being 10 million yuan, 5 million yuan, and 3 million yuan.