Hohhot strengthens enterprise technological innovation

An impressive view of the Yili Future Intelligence and Health Valley in Hohhot. [Photo provided to chinadaily.com.cn]

In line with its goal of establishing a regional technological innovation center, Hohhot has been actively promoting and enhancing the technological innovation capabilities of its enterprises, injecting significant momentum into the city's high-quality development.

In 2023, a budget amounting to 757 million yuan ($105.8 million) has been allocated for science and technology funding, representing a growth of 34.22 percent compared to the previous year. The city has actively supported the execution of eight major scientific and technological initiatives spearheaded by enterprises, with a total funding of 45 million yuan. Additionally, the city has secured 734 million yuan of specialized financing from higher-level authorities, establishing itself as a leader in the autonomous region with a growth rate at 171.85 percent.

Efforts have been made to diversify technological investments, establish risk compensation mechanisms, and explore the organic integration and interaction between technological innovation and financial capital chains. In 2023, a technology-oriented business matching meeting was held, with 51 technology-based enterprises participating and conducting business negotiations with 15 companies.

Taking advantage of the high concentration of resources from local universities, Hohhot has established platforms for technological innovation and the exhibition and transformation of achievements. A series of collaborative innovation roadshows were organized, featuring Inner Mongolia University, Inner Mongolia University of Technology, and Inner Mongolia Agricultural University. As a result, 23 new technologies and achievements were successfully converted and implemented in Hohhot out of 25 showcased projects.