Thanks to the 500 million-yuan investment from the fund for the transformation of old and new growth drivers, in the noodle workshop of Shandong Binzhou Zhongyu Food Company, 8 automatic production lines were operating in full capacity despite the shortage of workers amid the epidemic outbreak. When enterprises spare no efforts to resume production, the province has continuously increased the investment to facilitate the enterprises' stable production and supply and support the prevention and control of the epidemic.
Zhang Hongkai, manager of No.3 noodle workshop of Binzhou Zhongyu Food Co. Ltd., the fund has provided the enterprise with sufficient financial support, enabling the enterprise to not only go into full production of noodles, vegetables and other living materials, but also turn production lines of edible alcohol into alcohol disinfectant, with a daily output of more than 300 tons of sterile alcohol.
To promote the stable and health development of the economy and increase the financial support for enterprises, Shandong has guided more social capital to invest in epidemic prevention and anti-epidemic related projects.
Since the outbreak of the epidemic, the province’s fund for the transformation of old and new growth drivers has invested 6.5 billion yuan in 23 projects and drove an investment of 20 billion yuan of social private capital.
To give full play to the role of the fund, Shandong has opened a green channel for the fund in epidemic prevention and control projects. “For the development and production of medical equipment, vaccine and drug related to the epidemic prevention and control, Shandong has further simplified the related business processes, realizing the filing and arrangement of online communication with fund management institutions on the same day of declaration,” said Liu Kui, vice general manager of Shandong Provincial Growth Drivers’ Transformation Fund Management Co. Ltd.
As of the end of 2019, the number of fund for the transformation of old and new growth drivers has reached 501 in Shandong, with a subscribed capital of 694.7 billion yuan and paid-in capital of 192.8 billion yuan, which has been invested in 1,728 projects. The fund has led to 461.4 billion yuan of other financial and social capital investment and covered all 16 cities in the province.