Liangjiang New Area in Southwest China's Chongqing municipality recently launched 10 policies on developing the industrial internet. The policy will be valid until the end of 2022.

The policies involve industrial internet infrastructure construction, companies' intelligent transformation, industrial internet platform development, cloud platform promotion, and establishment of an industrial internet industry ecosphere.

To support quality companies to establish industrial internet platforms that provide services such as coordination of supply and demand, solutions, equipment connections and industrial app development, Liangjiang will select no more than five projects every year and fund them to a maximum of 10 million yuan ($1.43 million).

In enhancing cooperation between industrial companies and industrial internet service providers, Liangjiang will select no more than five projects every year and provide rewards of no more than 20 percent of each project's total investment. Each project will receive a reward up to 5 million yuan.

In addition, for companies connected to the cloud platforms for the first time, Liangjiang will provide rewards 10 percent of the platform's basic service fee.

Pang Songtao, vice-president of Inspur, said that the group will benefit hugely from the policies, and will give full play to the group's advantages in industry, technology, environment and talents to build a national industrial internet demonstration platform.

The policies apply to companies with independent corporate capacities that are registered, operate, and pay tax in Liangjiang.

More details of the policies will be released during the second half of 2020.