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R&D investment growth incentives of over 130m yuan realized

Updated: 2024-01-10

Recently, Beijing E-Town announced the approval of the proposed support for companies with increased research and development (R&D) investment in 2022. 

"A total of over 132.82 million yuan ($18.51 million) in incentives for R&D investment growth had been fully realized by the end of the year. Seventy-four companies received a substantial policy package of financial support." According to the Science and Technology Innovation Bureau of Beijing E-Town.

"At the end of December 2023, WeMed received a 2 million yuan R&D investment growth incentive from Beijing E-Town. This tangible financial support not only provides partial funding for the innovative development of the company but also strengthens our confidence," said Xie Jing, chief technology officer of Beijing WeMed Medical Equipment Co.

As a crucial component of technological innovation within companies, last year, Beijing E-Town introduced a series of policies to promote innovation and R&D, accelerating the conversion of scientific and technological achievements. 

According to the "20 Science and Technology Policies," large and medium-sized key enterprises and specialized and sophisticated "Little Giant" companies, whose annual R&D expenses exceed the annual target value, will be supported with 20 percent of the excess amount, with a maximum support amount of 3 million yuan.

"With the support and guidance from relevant departments in Beijing E-Town, our cloud computing brand—China Unicom Cloud—received 3 million yuan in R&D investment growth funds, which were successfully credited before year-end, providing support for further enhancing the company's competitive strength," said the head of the Cloud Computing Division at China Unicom Digital Technology Co.

In this round of policy implementation, 74 companies covering the four dominant industries of new-generation information technology, high-end automobiles and new energy intelligent automobile industry, biotechnology and the big health industry, and the robotics and intelligent manufacturing industry, as well as emerging industries, were awarded. 

Beijing E-Town will continue to provide high-quality policy supply, factor supply, and service supply through a series of measures to stimulate the innovative and entrepreneurial vitality of companies in a first-class business environment, achieving a strong start in the first quarter.