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Zhejiang adopts measures to help construction industry

ezhejiang.gov.cn| Updated :2022-08-04

Authorities in East China's Zhejiang province recently released 17 policies and provided financial support to boost the development of the construction sector.

These policies seek to promote the competitiveness of Zhejiang's construction industry and solve problems faced by construction enterprises.

In 2021, the total output value of the construction industry in the province was ranked second in the country.


Construction engineering company in Hangzhou. [Photo/zjol.com.cn]

According to the measures, Zhejiang will increase the proportion of project progress payments from 80 percent to 85 percent, refund value-added tax to construction enterprises according to regulations, and reduce the wage accounts of migrant workers to reduce the burden on enterprises.

In addition, authorities will encourage construction enterprises to participate in the construction of large-scale infrastructure projects involving rail transit, airport facilities, expressways, and water conservancy hubs, establish an enterprise service platform in the domestic market, and provide information sharing, market promotion, personnel training and other services.