Shanghai announced plans to boost confidence for promoting economic growth, including providing relief package for enterprises and facilitating high-quality development, official sources said on Sunday.

Enterprises in Shanghai hiring people who have been registered as unemployed for more than three months or those who will graduate university in 2023 will get 2,000 yuan per recruit.

Consumers will receive 10,000 yuan in subsidies for every electric vehicle purchased by the end of June, and buyers of green and smart home appliances will get a 10 percent discount.

A total of 280,000 square meters of residential apartments will be renovated throughout 2023.

Innovative enterprises officially identified by the local government would get a reward at a minimum of 100,000 yuan.

Major technological transformation projects in key industries can receive financial support of up to 100 million yuan.

The city set a target of having its fixed-asset investment grow 5 percent to reach the 1 trillion yuan mark in 2023. Specifically, 191 major projects with a combined investment value of 215 billion yuan have been planned, up 7.5 percent year-on-year.