Pingtan's preferential policies in finance and taxation are benefiting more and more local enterprises, ptnet.cn reported on May 26.

Pingtan has granted subsidies of more than 200 million yuan ($30.44 million) to local industries, including finance, shipping and tourism, in the first five months this year, exceeding the total volume of last year, according to the local administrative examination and approval authority.

The surge indicated the rapid growth of the industries and helped promote further development of those industries by attracting more related enterprises.

The increase was due to the zone's simpler subsidy approval procedures that took effect on March 1, cutting the approval period to three or four days and greatly improving work efficiency.