Area builds up new economic drivers

(chinadaily.com.cn) Updated: 2018-04-10

Over the past few years, the zone initiated a series of projects to create an ideal environment for both residents and businesses.

For instance, government officials are required to establish direct contact with businesses to help companies to solve problems in an effective manner. In addition to this commitment, efforts have been made to promote urban upgrades, as well as social and industrial development, to enhance security, quality of life and government service quality.

The zone has provided different types of support to businesses so they can be more focused on technological innovation.

Companies in the zone are provided with an "innovation coupon", a form of financial support, to reduce research and development costs.

In 2017, the zone lent a hand to support Shengrui Transmission's hybrid transmissions development projects by providing the company with the coupon. The coupon helped Shengrui to save significant R&D expenses, according to the company.

"The innovation coupon is a form of financial support provided to companies for free to encourage business innovation. We have been providing more support for more companies in recent years," said Chen Zhe, deputy director of Weifang Hi-tech Industrial Development Zone's technology bureau.

Chen said the innovation coupon is tailor-made based on companies' real life needs. It will help small and microenterprises to grow rapidly, help the zone to form an industrial cluster and promote industrial upgrading.

In return, companies in the zone are striving to provide strong support to the zone in the process of replacing old economic drivers with new ones.

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