East China’s Jiangsu province has released Policies on Promoting the High-quality Development of High-tech Enterprises in Jiangsu Province in a bid to boost the development of techno-enterprise clusters across the province.
Jiangsu will intensify the efforts for the cultivation of hi-tech firms by expanding the provincial hi-tech firm incubation fund to the scale of 2 billion yuan, according to the policies. The capital will increase year by year and subsidized according to actual spending.
Efforts will be made to encourage and support high-tech enterprises to undertake the construction of national technology innovation centers, national industrial innovation centers, national key laboratories and other platforms. Regional governments can reward the introduction and transformation of advanced technological achievements according to 10% of the technical contract turnover.
The number of hi-tech firms under training for registration at the stock market should be no less than 80% of the total so as to open up green channel for hi-tech firms to be listed.
In the meantime, the government will subsidize a total of 3 million yuan for hi-tech firms to be listed on the science and technology board at the Shanghai Stock Exchange.
China's securities regulator released a guideline last February on establishing a science and technology innovation board at the Shanghai Stock Exchange.
According to a statement by the China Securities Regulatory Commission, the board will focus on companies in high-tech and the strategic emerging sectors such as new generation information technology, advanced equipment and new materials.
The establishment of the science and technology innovation board aims to further implement innovation-driven development strategy, enhance the service level of the capital market to China's core technology innovation capacity, and support the construction of Shanghai as an international financial center and an international technology innovation center. It is an important move to improve the basic system of the capital market, carrying out new development idea and deepening supply-side structural reform.
(Source:ourjiangsu.com)
