Shenzhen will provide subsidies of up to 30 million yuan ($4.46 million) for construction companies or parties engaged in qualified construction projects as well as technological transformation projects, according to a document issued by the Shenzhen Bureau of Industry and Information Technology on Jan. 20.

The purpose is to stabilize the development of industries and the local economy after the adjustment of coronavirus prevention and control policies.

The city will also provide subsidies to encourage enterprises to increase production, pursue technological innovations, hunt for talent, and upgrade their telecommunication and production technologies.