Jiangsu Province has introduced a new set of economic measures designed to strengthen domestic demand and enhance social welfare. The policy package, issued by the provincial government, includes a broad range of initiatives aimed at fostering sustained economic growth and improving living standards across the region.

The measures encompass a variety of consumer incentives, including the distribution of health service vouchers to families with children aged 0-3. This is part of a larger effort to support early childhood development and ease family financial burdens, particularly in areas of healthcare and wellness services.

Officials also confirmed that the province will strictly implement the existing paid leave system for employees. Additionally, the government plans to increase the frequency of small and medium-sized concerts and local music festivals, creating more cultural and entertainment opportunities for residents and visitors alike.

Beyond consumer-focused policies, the initiative places heavy emphasis on fiscal efficiency. Authorities intend to accelerate government spending and the utilization of bond funds, while simultaneously directing resources toward advanced manufacturing, modern services, and urban renewal projects. Subsidized interest products and municipal-level corporate bonds are also part of the financial strategy to spur growth.

The policy framework seeks to improve the investment environment by encouraging long-term capital into the province, supporting the operation of provincial M&A funds and S-funds. Efforts to promote the use of REITs and asset-backed securitization are also underway, allowing businesses to better leverage existing assets for liquidity.

In the manufacturing sector, the plan focuses on upgrading traditional industries through new incentive schemes. The government aims to encourage industrial enterprises to expand production capacity, embrace technological renovation, and accelerate digital transformations. A major emphasis is placed on the integration of artificial intelligence into manufacturing processes.

For emerging and future industries, the province is set to roll out tailored policies around its core "6+6" industrial system. This includes the formation of industry alliances and the compilation of key enterprise lists for targeted cultivation and recruitment. Financial institutions are expected to collaborate closely with these alliances to provide precise credit support.

Significant attention is also devoted to scientific research and innovation. The government will increase funding for foundational research, expand joint funds with the National Natural Science Foundation, and encourage leading enterprises to set up corporate research institutes. New infrastructure, including concept verification centers and pilot manufacturing platforms, will be developed to bridge the gap between laboratory results and commercial applications.

In an effort to boost service consumption, the province is expanding nighttime economies, upgrading business districts, and promoting new consumption formats. The initiative also includes the introduction of high-quality medical aesthetics institutions and the launch of international medical service pilots in public hospitals, signaling a push toward higher-end consumer offerings.

The housing and real estate sectors are also targeted, with policies supporting urban renewal through local government special bonds. These measures aim to accelerate old residential community renovations and optimize housing provident fund loans. There is a coordinated effort to merge urban renewal with real estate market stability.

To support businesses, the government pledged to accelerate the clearing of overdue payments owed to enterprises and streamline VAT refund procedures. A more equitable and competitive market environment will be promoted through the removal of regional barriers, while administrative penalties are to be simplified for faster case resolution.

Access to financing for private enterprises will be widened through a newly established Jiangsu Province private enterprise investment fund. Infrastructure projects approved at the provincial level will now be required to assess the feasibility of private capital participation, further opening the door for private investment.

The province is also taking active steps to stabilize foreign trade. This includes providing special funds to support enterprises participating in domestic and international exhibitions, expanding cross-border e-commerce training, and strengthening the use of export credit insurance. The government aims to help businesses access international logistics solutions and strengthen China-Europe rail services.

Foreign investment is another priority area, with measures designed to stabilize and attract external capital. These include the formation of an alliance to support foreign-funded enterprises in their A-share listing pursuits and the creation of a service industry scenario list tailored for foreign investors.

Green development features prominently in the policy. A mechanism will be established to allow cross-regional allocation of carbon emission quotas and energy consumption indicators, facilitating a smoother transition to low-carbon operations. The province will also build a national carbon metering center and promote green power direct supply to industrial parks and projects.

An emphasis on talent and employment concludes the comprehensive measure. The province will roll out new employment support initiatives, including AI-focused technical training and expanded social insurance coverage for modern service industries. Efforts to attract high-level overseas talent and to integrate research with local entrepreneurship ecosystems will also be intensified.

These wide-ranging measures, which took effect upon issuance, are expected to help Jiangsu Province complete its annual economic targets and establish a strong foundation for a successful start to the 15th Five-Year Plan period. The government has called on all departments to work in coordination to ensure effective implementation and to enhance the tangible benefits for businesses and citizens alike.