Lishui – located in East China's Zhejiang province – recently called on local businesses to retain staff for production stability during the upcoming Spring Festival, to guarantee the city's industrial economy has a good start to the new year.

The call was made in a set of guidelines and measures the city has issued to companies based there.

One measure is that Lishui will offer a subsidy of 80 yuan ($11.45) per person per day for staff in manufacturers that are above a designated size - those earning at least 20 million yuan annually. That measure will be implemented from Jan 7 to Feb 5, 2023.

Another measure is that the city will grant eligible manufacturers above a designated size tiered subsidies. These will be set at 1 percent, 1.5 percent, 2 percent, 2.5 percent and 3 percent on growth over a benchmark, up to a maximum of 5 million yuan. This measure will be implemented from Jan 1 to March 31, 2023.

This year, Lishui has implemented a series of measures to stabilize its industrial economy and improve the economy's quality – in response to the impact of COVID-19, the complex and changing international economic situation and other adverse factors.

From January to November, the city's industrial added value above a designated size was 36.38 billion yuan, up 5 percent year-on-year.

In addition, the value of manufacturing investment during the period grew 38.1 percent year-on-year, ranking it second in the province.