Quanzhou rolls out plan to develop star companies

A working plan to develop star companies in Quanzhou was recently rolled out by the city in East China's Fujian province, to support businesses moving to accelerate their growth and grow into top performers.

Under the plan, after three to five years companies identified by the city as future top performers will be helped to expand and strengthen their main businesses, with a target set for an average annual increase in output value and tax revenue of 15 percent respectively.

The result will be the creation of a group of industry leaders, transformation and upgrading models and a reserve of large enterprises.

Several enterprises will grow into national star companies and most of them will grow into provincial star companies.

For those companies identified by the city to be helped, Quanzhou will give priority to guaranteeing their needs for land expansion, energy use and other requirements.

Those companies on the list with annual output value worth more than 1 billion yuan ($147.87 million), 3 billion yuan, and 5 billion yuan will be eligible for one-off grants of 300,000 yuan, 500,000 yuan, and 1 million yuan respectively.

In addition, the city will support the enterprises to be recognized as engineering research centers, key laboratories, technological innovation centers, enterprise technology centers, and post-doctoral scientific research workstations.