Ningbo unveils new measures to bolster high-tech sectors

A workshop in Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]

Ningbo in East China's Zhejiang province recently rolled out an action plan to further optimize the business climate for high-tech enterprises, local media reported.

Released by the Ningbo municipal bureau of science and technology, the plan contains 20 specific measures.

One measure is rolling out incentives to encourage innovation among enterprises so as to increase the number of high-tech enterprises in the city.

Companies will be granted a one-time bonus of 50,000 yuan ($7,692.3) after being accredited as small and medium-sized technology enterprises.

Those designated as high-tech enterprises will be granted an award of up to 200,000 yuan.

In addition, high-tech companies that generate more than 20 million yuan in revenue or above-designated-size enterprises that are designated high-tech companies will be given an award of 100,000 yuan.

Other measures released by the local government include holding contests to stimulate R&D investment and promoting the commercialization of technologies.

The city has set the target of doubling the number of high-tech companies, small and medium-sized technology enterprises, and listed high-tech enterprises in the city by 2025, according to the action plan.

By then, Ningbo should have more than 10,000 high-tech companies, over 35,000 small and medium-sized technology enterprises as well as 150 listed high-tech enterprises.