On April 20th, Qingdao City, Shandong Province, held a promotion meeting for new and old kinetic energy conversion funds and announced the establishment of a 300 billion yuan new and old kinetic energy conversion fund.
Deputy Secretary of the Qingdao Municipal Party Committee, Mayor Meng Fanli, Chairman of National Development Investment Group Co., Ltd. Wang Hui, Party Secretary, and Song Yuanfang, Director of the Standing Committee of Qingdao Municipal People's Congress attended the meeting.
The reporter was informed that this fund is mainly focused on the major projects of the city's new and old kinetic energy conversion, focusing on five major areas.
Among them, in the field of transformation and upgrading of traditional pillar industries, priority will be given to six industrial projects such as rubber chemicals and machinery and equipment.
In addition, the fund also supports projects that are in line with the national 'One Belt and One Road' initiative and the military-military integration development strategy, giving priority to innovative companies and key talent innovation projects at or above the municipal level.
According to reports, Qingdao's new and old kinetic energy conversion funds adopt a three-tier structure, including guiding funds, parent funds, and sub-funds.
With the support of provincial guiding funds, Qingdao Municipality and its jurisdictions have invested in the establishment of government guiding funds to attract domestic and foreign financial institutions, enterprises, and other social capital, and jointly initiated the establishment of a parent fund group.
Subsequently, the parent fund initiated the establishment or increased the number of sub-funds to instigate social capital and form a 300 billion yuan industrial fund.
At present, the major projects for the conversion of old and new kinetic energy in Qingdao have been initially established. There are 1,000 storage projects.
Tire World Net understands that under the requirements of the 2018 development plan in Shandong Province, the conversion of new and old kinetic energy in the tire industry is in an orderly process.
According to industry sources, Qingdao City has set up a 300 billion yuan fund to add new impetus to the transition of tires and rubber companies.
Double Star, Sen Qilin and many other large tire companies, or will usher in a major positive.