In recent developments, the Ministry of Finance issued the "Circular on Issuing the Investment Budget (Allotment) of Domestic Bonds for Domestic Demand Increasing in 2009 on Key Industrial Revitalization and Technical Renovation (First Batch)" project, which is supported by subsidies aimed at promoting key industry revitalization and technological upgrades. Zhejiang Semir Clothing Co., Ltd. was among the recipients, with a project focusing on the construction of a clothing sorting system and an annual production capacity of 9 million casual garments, receiving a total of 10.8 million yuan in funding.
According to reports, the city has three projects included in this initiative, collectively receiving 21.87 million yuan in grant support. These include Zhejiang Senma Garments Co., Ltd.'s project for expanding its annual output of 9 million casual garments and establishing a clothing sorting system; Wei Ming Environmental Protection Equipment Co., Ltd.'s project involving the production of 12 sets of garbage incineration systems, flue gas treatment equipment, and automated control systems; and Jiangnan Valve Co., Ltd.'s project for manufacturing 300 large petrochemical valves. The subsidies allocated to these projects amounted to 10.8 million, 5.96 million, and 5.11 million yuan respectively.
The funding is specifically targeted at supporting enterprise revitalization and technological innovation. In the context of the global financial crisis, these grants are expected to provide much-needed support for small and medium-sized enterprises (SMEs), helping them restructure, upgrade their operations, overcome technical challenges, and enhance their innovation capabilities and market competitiveness. This initiative not only promotes industrial transformation but also injects new momentum into the economic recovery.
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