Hefei National High-tech Industry Development Zone – located in Hefei, the capital of East China's Anhui province – recently issued a raft of policies to support resident small and medium-sized enterprises.

The policies focus on nine areas, such as encouraging SMEs to invest in digital transformation and guiding them to expand their business scale.

To nurture niche-sector leaders with a high market share, Hefei high-tech zone will provide 200,000 yuan ($29,046.84) as an incentive to each SME whose main business income exceeds 50 million yuan, provided they claim a domestic market share in excess of 10 percent and rank within the top three in Anhui province.

In terms of encouraging industry chains, an incentive of up to 2 million yuan that covers 1 percent of the purchase amount will be provided to companies whose products or services are bought by Fortune 500 companies.

To date, Hefei high-tech zone has cultivated 249 municipal-level special and sophisticated SMEs and 49 national-level "little giant" companies, which refers to those specializing in niche industries with cutting-edge technologies and strong growth potential. That accounts for 24.3 percent and 35 percent of the respective totals in Hefei city.