An impressive bridge crosses Hohhot [Photo/Hohhot Daily]  

Hohhot, capital city of North China's Inner Mongolia autonomous region, has ranked first in the region's innovation index, achieving remarkable progress in its scientific and technological innovation, reports Hohhot Daily.

In 2022, the city invested 5.24 billion yuan ($752 million) in R&D, a year-on-year growth of 12 percent. Its R&D intensity has increased for the sixth consecutive year, and now reaches 1.68 percent.

Since 2022, Hohhot has been working to improve its R&D-oriented enterprise incentive mechanism by formulating the Implementation Plan for R&D Investment. The government has cashed out over 56.87 million yuan to support enterprise innovation.

As a leading enterprise in bio industry, Jinyu Baoling Biopharmaceutical Co enjoyed 2.38 million yuan in subsidy and incentive funding in 2022. Moreover, its key laboratory also received 500,000 yuan in funding.

The Hohhot municipal bureau of science and technology actively cooperated with multiple departments, such as finance and tax statistics, to interpret R&D investment policies for enterprises. This was done to help enterprises understand all relevant policies, as well as benefit from them.

Last year, through preferential science and technology policies, more than 27 million yuan in rewards and subsidies were given to innovative enterprises in the city.

In 2023, Hohhot aims to increase its R&D investment by more than 10 percent. It is also set to implement more than 40 key technology research projects related to six major industrial clusters in the dairy, biomedicines, photovoltaics, digital economy, modern logistics, and cultural tourism sectors.