Five projects initiated by four companies in Qingshan district, Baotou, Inner Mongolia autonomous region, have received city-level funding for industrial transformation and upgrading totaling 16 million yuan ($2.5 million), according to Baotou Daily.

The funds will provide strong support for the implementation of technological transformation projects, equipment purchases, and scientific research and development.

The city’s special fund for industrial transformation and upgrading was established in 2014 by Baotou Municipal Economic and Information Commission and the finance bureau. It aims to accelerate the industrial transformation and upgrading of the city, while promoting the sustained and healthy development of the industrial economy.