Kunming’s pilot area plans 18 billion yuan investment in 3 years

Updated: April 25, 2022

The Kunming part of China (Yunnan) Pilot Free Trade Zone will complete a total of 18.2 billion yuan($2.77 billion) of industrial investment in three years, according to the area’s management committee.  An action plan consisting of 10 measures was rolled out recently.

The measures will focus on accelerating industrial capacity; attracting investment; and intelligent upgrading.  

An incentive mechanism for major projects will be established. The integration of digital technology and key industries (such as equipment manufacturing, biomedicine, new materials, and digital economy) will be advanced. Machines will replace humans for tedious and repetitive work. Equipment will be upgraded to cutting-edge versions. Smart factories and workshops will be cultivated to promote industrial production.

For such projects, the area will provide financial support and incentives as much as 30 million yuan.

All enterprises above a designated size will be encouraged to use the cloud platforms. Increasing lands will be designated for industrial use and land use efficiency will ensure development room for industries.

Measures will be rolled out to encourage and support industrial parks and enterprises to develop green, low-carbon, and circular development, and accelerate the construction of distributed photovoltaic power generation and decentralized wind power generation.

Local authorities also plan 3 billion yuan investment in the next three years to bolster infrastructure in the area.