4 NETDA enterprises listed as provincial tech firms

Four companies in the Nantong Economic and Technological Development Area in Nantong, East China's Jiangsu province recently made the list of provincial technology firms released by the provincial Department of Industry and Information Technology.  

To be recognized as a provincial technology enterprise, a firm must be designated as a city-level technology enterprise a year ago and must not have committed any infringements over the past three years. The company must also invest more than 8 million yuan ($1.12 million) in research and development in a year, and its research and development facility must be worth over 8 million yuan and hire more than 50 research professionals. 

In addition, a high-tech firm must generate an annual revenue of over 100 million yuan, and a non-high-tech enterprise must generate an annual revenue of over 200 million yuan.

Nantong Richen Bioengineering Co Ltd, which is focused on the development and production of food additives, is among the companies on the list. 

NETDA is presently home to two national technology firms, 38 provincial technology companies and 57 city-level technology enterprises, according to official statistics.