Fuzhou's targeted fiscal support fuels new quality productive forces

Fuzhou Fuqiang Precision Co has upgraded its core production systems by establishing digital workshops and adopting intelligent applications. These efforts have improved product quality, raised efficiency, and lowered costs and inventory in manufacturing and office management.

Lin Jingfang, the company's operations director, said that the cost of upgrading facilities was 500,000 yuan ($70573), including a 300,000-yuan government subsidy.

Amid growing pressure for traditional industries to upgrade, Fuzhou has continued to reinforce financial support for industrial park renovations and enterprise technology transformation.

During the 14th Five-Year Plan period (2021-25), the city allocated 2.48 billion yuan in dedicated funds for industrial and information development, supporting 16 key industrial chains, six industrial clusters, and four industrial parks with an output exceeding 100 billion yuan each.

Fuzhou has also advanced an innovation-driven development strategy. Municipal authorities allocated 4.60 billion yuan to support high-standard platforms such as the Fujian Science and Technology Innovation Laboratory for Optoelectronic Information of China. The city has established 421 national and provincial laboratories and research centers, and is home to more than 4,600 national high-tech enterprises.

To foster emerging industries, Fuzhou has invested in new energy storage, low-altitude economy, and next-generation optoelectronics, while also establishing funds to support industrial upgrading and talent development.

Looking ahead, the city will pursue proactive fiscal policies to nurture new quality productive forces and build a resilient, competitive modern industrial system.