Shanxi home to more tech firms in 2018

There were 1,630 tech firms based in Shanxi province by the end of 2018, according to a provincial meeting on technological development held in Taiyuan on Feb 28.

The figure represents an increase of 30 percent compared to 2017, with the added value of high-tech industries and strategic emerging industries growing 16.3 percent and 14 percent respectively.

A total of 390 private tech businesses were recognized and grants worth 28.02 million yuan ($4.18 million) were given to support the growth of local micro, small and medium-sized enterprises.

And Shanxi has set an ambitious target for this year, with local authorities aiming to get the number of high-tech companies, as well as provincial laboratories and engineering research centers over 1,900 and 240 respectively. Local authorities also want the volume of technology contract transactions to exceed 26.5 billion yuan.