Since the beginning of this year, Beijing's Daxing district has been making continuous efforts to boost regional innovation and entrepreneurship.

According to the district's science and technology authority, a total of 152 companies entered the district's 2020 innovation and entrepreneurship contest, with the number of project applications reaching 240.

"We will do a good job of follow-up work such as reviewing projects and cashing in rewards, striving to make more small and medium-sized tech firms feel the district's consistent enthusiasm and support," said an official with the authority.

A week-long drive promoting innovation and entrepreneurship is held in Beijing's Daxing district on April 12, 2019. [Photo provided by Daxing district]

Daxing introduces new innovative and entrepreneurial policies on April 12, 2019. [Photo provided by Daxing district]

The district has provided significant amounts of funding support for the entrepreneurship project. In 2019, Daxing offered about 30 million yuan ($4.48 million) to help 130 projects by80 companies.

Some incubators have adopted preferential measures such as waiving rents in order to encourage entrepreneurial companies to settle in. Financial help may also be granted at a maximum rate of no more than 90 yuan per month per square meter.

Meanwhile, the project has begun to attract high-end scientific and technological talents, including college students, teachers, and returned overseas students. Last year, there were nine academician postdoctoral workstations in the district.

Alongside these changes to its functional positioning and industrial direction, Daxing has also initiated a series of remedial actions. A new high-tech industrial park was built on the original site.

More platforms containing competitions, training and exhibitions have emerged, and some of them have turned into well-known brands.

This year's innovation and entrepreneurship competition was conducted via video conferencing and webcast, receiving more than 64,000 views. In addition, since 2018, the T-EDGE Global Innovation Conference, introduced in Daxing, has become an important platform for the improvement of its international development.