The Nanyang Municipal Party Committee and the Municipal Government attach great importance to cultivation of high-tech enterprises. According to a statement by the Nanyang Science and Technology Bureau made April 26, the added value of the city's high-tech industries will account for 50 percent of the added value of regulated industrial enterprises this year.

High-tech enterprises are the key to implementing innovation-driven development strategies and promoting high-quality development. During the "13th Five-Year Plan" period, the number of high-tech enterprises in the city increased from 55 in 2015 to 264 in 2020, with an annual growth rate of 37.54 percent, exceeding the city's high-tech enterprise doubling plan.

Nanyang has promulgated policies and measures such as the Nanyang Supporting Science and Technology Innovation Policy List, which has reduced the burden on enterprises for technological innovation.

In 2020, the city made fiscal expenditures on science and technology that reached 1.41 billion yuan, and strove for 103.9 million yuan in national and provincial science and technology funds.

The city also has supported 278 million yuan in funding for science and technology through the science and technology innovation loan interest discount project, driving financial institutions to increase credit investment of more than six billion yuan in corporate science and technology innovation.

Focusing on leading industries such as equipment manufacturing and optoelectronic information, the city in 2020 implemented a total of 10 major scientific and technological projects, 226 scientific and technological research projects, and 100 soft science projects, which has improved the technological innovation level of leading industries. In that year the city's high-tech enterprises invested 2.72 billion yuan in R&D, and employed approximately 75,000 people.