Nantong attracts 3,411 innovation projects over 3 years

A bird's-eye view of Nantong. [Photo provided to chinadaily.com.cn]

Nantong in Jiangsu province has in recent years been emphasizing the attraction of science and technology innovation projects as a crucial strategy to develop new quality productive forces.

According to the local municipal science and technology bureau, a total of 3,411 sci-tech innovation projects have been attracted to the city over the past three years, leading to a series of remarkable accomplishments in economic and social development. In 2020, the city's economic output exceeded 1 trillion yuan ($138.06 billion), placing it among the top cities in the country.

Innovation and collaboration is the primary driver for Nantong's next trillion-yuan goal. In the pursuit of high-quality economic and social development, the city prioritizes technological innovation and is committed to becoming a national leader in innovation.

Nantong has been promoting cross-regional collaboration in technological and industrial innovation. It has established close industry-academia-research partnerships with nearly 300 universities and institutes nationwide and established the province's first semiconductor industry innovation consortium as well as the Yangtze River Delta's first bio-pharmaceutical industry innovation consortium.

Capitalizing on its strong industrial foundation and continuously improving business environment, the city has established a modern industrial system centered around high-end equipment manufacturing, new materials, new energy, and electronic information.

Leveraging its advantages in attracting capital, it has also established two major funds for industry and innovation and collaborated with renowned institutions to set up over 100 secondary funds, creating a fund pool exceeding 120 billion yuan. A fund system covering the entire lifecycle of enterprises has been formed in the city.