A dozen projects developed in the city of Baotou – located in North China's Inner Mongolia autonomous region – are to get autonomous regional-level funds totaling 251 million yuan ($38.7 million), according to a report in the Baotou Evening News.

The round of grants will go to projects promoting the high-end, intelligent and green transformation of traditional industries.

The initiative reportedly prioritizes support for new materials, new energy, modern equipment manufacturing – as well as projects in the field of "carbon peak and carbon neutrality" and innovation platform construction projects.