Hi-tech firms to get quality-improvement incentive

A special fund is being set up to help local High & New-Technology Enterprises become more competitive and to overcome technical difficulties in developing key technologies.

The enterprises (HNTE) will each receive an additional 100,000 yuan ($15,618) in subsidies this year if they rank among the top 50 citywide in terms of comprehensive innovation capability, tax payment, and growth potential.

The support is included in the Action Plan for Promoting the Quality Improvement of High-Tech Enterprises (2018-20) just released by the Zhuhai Science, Technology, Industry, Trade & Information Technology Bureau.

Zhuhai National Hi-Tech Industrial Development Zone [Photo courtesy zhuhai-hitech.gov.cn]

The city expects to have at least 1,800 companies with candidate status to become provincial HNTEs by 2020. Until then, more than 500 will have authorized R&D institutes above municipal level, with R&D expenditures accounting for over 6 percent of sales revenue. Those earning more than 100 million yuan ($15.6 million) in business income will receive aid in establishing their own R&D bases.

The plan anticipates 1,000 HNTEs to grow above a designated size and 24 to go public domestically and abroad by 2020. Meanwhile, by then the gross output value of HNTEs is projected to account for more than 65 percent of the total of industrial enterprises above a designated size.