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Optimized services boost innovation in Yangquan

Updated: 2022-01-13

The city of Yangquan in North China's Shanxi province improved its scientific and technological innovation service system in 2021 in order to provide favorable conditions for innovation activities as well as the transformation and application of innovative achievements.

Major measures include improving innovation policy system, increasing fiscal and tax incentives, and optimizing the local business environment.

The city revised the circular on the management of planned science and technology projects in order to increase their focus on key technical issues in major industries, as well as to give innovative talent greater power to make decisions and use funds. 

Policies and measures focusing on high-tech enterprise cultivation and support as well as the identification and management of new R&D institutions were implemented to enhance the scientific and technological innovation policy system. 

Local high-tech enterprises enjoyed preferential tax treatment, with corporate income taxes of 31.08 million yuan ($4.87 million) being reduced or exempted. The financing problems of small and medium-sized tech-based enterprises and projects were solved through various government-bank-enterprise business matchmaking activities.

Yangquan also streamlined the administrative approval procedures for enterprise establishment and provided full-process guidance, assistance and agency services. The municipal government affairs data exchange platform realized cross-level, cross-regional, cross-system, cross-department, and cross-business sharing of government affairs data, which has played a role in accelerating the introduction and production of enterprises and projects.