BINZHOU, China, Aug. 22, 2022 /PRNewswire/ — A news report from chinadaily.com.cn: 

Binzhou city in Shandong province has been ramping up efforts to further reform the management system for science and technology, and develop a market-oriented system for technological innovation in which enterprises are the main players and synergy is created through the joint efforts of enterprises, universities, and research institutes.

The city has formulated an implementation plan for the construction of an innovation and entrepreneurship community which combines government, industries, academia, research, funding, services and application.

The 10th municipal Party congress of Binzhou proposed to adhere to innovation-driven development, accelerate the construction of a modern industrial system, and make scientific and technological innovation a strong driving force and realistic path for regional economic transformation and high-quality development.

Last year, Binzhou’s investment in research and development accounted for 3.36 percent of its GDP, 1.06 percentage points higher than the provincial average. The city’s increase in the overall scientific and technological innovation level index and innovation resources index were at the forefront of the province.

In 2021, 147 new high-tech enterprises were added in the city, an increase of 88.46 percent from the previous year, and the total number reached 392.

By the end of 2022, the numbers of small- and medium-sized technology-based enterprises and high-tech enterprises are expected to exceed 800 and 500, respectively.