Some 234 small and medium sci-tech enterprises registered this year in Huangshan city, Anhui province, a 32.95 percent increase year-on-year.
According to latest statistics, the total assets of these SMEs in the previous year reached 10.78 billion yuan ($1.55 billion), up 12.88 percent. What's more, the total number of sci-tech personnel reached 3,375 – up 8 percent year-on-year.
These SMEs are notable for having strong independent innovative abilities.
There are 224 of businesses in the city with independent intellectual property rights, accounting for 95.7 percent of the total number of such enterprises there.
They have also invested heavily in research and development. In 2021, the total main business income of these enterprises was 10.13 billion yuan, with R&D capital expenditure of 566 million yuan. The proportion of R&D expenses to the main business income reached 5.59 percent.
Small and medium sci-tech enterprises are widely acknowledged to be an important driver of innovation.
In order to boost their development, many preferential tax policies have been introduced. For example, small and medium-sized sci-tech enterprises in Huangshan enjoyed a deduction on R&D expenses of 263 million yuan in the first three quarters of the year.
Plans are for Huangshan to continue to boost follow-up services for small and medium-sized sci-tech enterprises and provide more convenient, flexible and accessible support.