Central China city encourages technological innovation

The innovative and high technology area has decided to award 17 enterprises, including Nanyang Jinguan Electric Corporation, with a prize of 740,000 yuan ($118,326) for technological innovation.

Last year, the area strictly focused on innovation to drive its development by making every effort in the development of innovative and high technology industry and strategically emerging enterprises, which realized steady economic and social development.

A batch of technological enterprises has sufficiently utilized innovation and has achieved higher results.

In order to guide the rapid concentration of innovative elements and support the transition of technological research and results, the area has established a mechanism of financial and technological investment boosting steady development and a special capital fund for technological innovation.

The area has also encouraged technological innovation, result transition, platform establishment and talent recruitment through awards, sponsorship and loans with discounted interests.