Shandong plans to establish a 1-billion-yuan ($141 million) incentive fund to support the high-quality development of its key industries affected by the COVID-19 pandemic, according to the Shandong Provincial Department of Finance.

The policy is mainly directed at the new-generation information technology industry, high-end equipment industry, new energy and materials industry, modern marine economy, medicine and healthcare, high-end chemical industry, modern agriculture, cultural creativity, tourism, and more.

The 10 leading enterprises in each sector will be awarded if they strengthen their economic performance, increase tax contributions, maintain a stable employment rate, and pursue ecofriendly and sustainable development.