Funds of 4.05 million yuan ($617,800) were issued to boost development of Baotou Rare Earth High-Tech Industrial Development Zone-based companies and research and development (R&D) centers, according to a June 21 Baotou Daily report.
The move was aimed to encourage businesses based in the high-tech zone to apply for R&D centers, key laboratories and other R&D platforms, and to encourage businesses to increase their investment in science and technology.
So far all of the funds have been issued in place.
Since 2017, Baotou Rare Earth High-Tech Industrial Development Zone has been making great efforts to nurture technological innovation platforms and build a technological innovation system with enterprises as its main body. It will focus on promoting the transformation of scientific and technological achievements, accumulate various types of innovation resources, and promote the smooth progress of enterprise R&D center identification work.
Also, the zone has provided financial support for the construction of R&D centers and key laboratories. The zone currently boasts 40 autonomous region-level R&D centers, accounting for 40 percent of the city’s total.
Baotou Rare Earth High-Tech Industrial Development Zone [Photo/internet]