On March 8, the administrative committee of Zhongguancun Science Park issued regulations on investment funds for technology-oriented, small- and micro-sized enterprises' research and development.

The regulations aim to further support these companies so that they may increase investment on R&D and accelerate innovations.

Statistics revealed that more than 10 percent of Zhongguancun's companies are small- and micro-tech enterprises that have been established within the past five years.

Those high-tech enterprises that have been established during that timeframe, with less than 100 employees and an operating income of 10 million yuan ($1.58 million) or less, can directly apply and be granted a certain amount of subsidies based on their R&D expenditure in the previous year. The maximum subsidy applicable is 200,000 yuan.

Zhongguancun has adopted the Online to Offline (O2O) mode to simplify the application process, which means companies can submit application materials online and get approval offline.

Wen Qiwen, deputy director of the administrative committee of Zhongguancun, added that Zhongguancun will also establish a database for small- and micro-tech enterprises. This will aid in discovering high-quality projects, as well as provide credit endorsements and services to subsequent technological R&D, financing, and business expansion.

Zhongguancun's administrative committee will then promote this policy to its sub-parks to ensure familiarity within all its small- and micro-tech enterprises.