The municipal government of Jining in East China's Shandong province recently initiated a policy to encourage its districts and zones to attract more investment.

The policy, which will come into effect on March 4, applies to the city's Rencheng district, Jining National High-tech Industrial Development Zone, Taibai Lake New Area, as well as Jining Economic and Technological Development Zone.

According to the policy, the local administrations in the four areas are expected to set up special funds for projects involved in major industries.

The projects that meet certain requirements, such as those actually using more than $30 million of foreign investment or receiving 200 million yuan ($30.97 million) in domestic investment, can enjoy discounted prices in water, electricity, gas, and heating. Preferential policies related to land use will also be introduced.

In addition, the Jining government will provide financial support to districts that attract major projects.