The city of Zibo, located in East China's Shandong province, plans to achieve steady economic growth by expanding demand in 2022, according to a recently released municipal government report.
The report said Zibo would make every effort to kick-start 460 major municipal projects with a total investment of 550 billion yuan ($86.7 billion) in the current year and ensure that annual investment would top 115 billion yuan.
The city also plans to tap consumer potential, organizing promotion events such as shopping months and mounting other marketing initiatives.
Meanwhile, the city will actively foster new forms of consumer spending such as new retail and going increasingly online.
In addition, Zibo is striving to become a national logistics hub city.
Last but not least, Zibo will provide strong financial support to boost commerce. Financial loans products will be increased and the city will increase support for manufacturing, rural revitalization, and private and innovative small and micro businesses.
An exterior view of the Zibo New Material Transaction Center. [Photo provided to zibo.gov.cn]
