The Shanxi Provincial Department of Finance has unveiled a comprehensive support plan for 2025 to bolster private economic development and build a high-standard market system.

Shanxi has allocated 840 million yuan ($116.11 million) to support the development of small and medium-sized enterprises in the private sector. These funds will reward new service enterprises and companies transitioning from small to large-scale, specialized, and innovative enterprises and be used for direct financing rewards.

To advance the development of a high-standard market system, the province will earmark 112 million yuan in provincial funds to support key enterprises. Of this, 35 million yuan is designated to attract major enterprises, including Fortune Global 500 and China's top 500 companies, to register in Shanxi.

Shanxi will allocate 26 million yuan to develop e-commerce, focusing on integrating e-commerce systems with logistics and delivery networks, and promoting platform economy growth. Another 13 million yuan will enhance the commercial circulation sector, including upgrading provincial pedestrian streets and encouraging the creation of provincial-level star-rated convenience life circles.

Furthermore, 34 million yuan will support the development of the hospitality and catering sectors, encouraging the establishment of new online accommodation and dining enterprises and promoting the expansion of central kitchens and branded household service companies.