The local government in Shenbei New Area is striving to create a favorable business environment to attract investment. [Photo/Chinanews.com]

Individuals or organizations that successfully attract investment to Shenbei New Area, which is administered by Shenyang in Northeast China, can receive incentives of up to 3 million yuan ($450,904), according to a new policy enacted by the local government.

“Investment projects are the most important,” said Li Hongde, the senior official of Shenbei New Area.

The government of Shenbei New Area set a target of introducing a minimum of 120 projects to the area in 2017.

To encourage investment, the local government launched a scheme to reward any individual or organization that makes an outstanding contribution to introducing investment projects to the area.