Statistics show that over the past year, Wuhan Economic & Technological Development Zone (WEDZ) has seen an 80-percent surge in the number of sci-tech companies recognized nationally, ranking among the highest in Wuhan, with 203 of the companies having passed initial approval.
The zone is currently home to more than 500 sci-tech enterprises.
In recent years, the zone's government has redoubled efforts to cultivate high-tech corporations by rolling out a series of policies, including the "33 Measures to Promote Innovation, Entrepreneurship" and "Eight Measures for Intelligent Property Right Protection".
Supporting infrastructure funds for these companies have been raised to 300,000 yuan ($47,100), 50 percent higher than the average amount in Wuhan. High-tech firms based outside the city which have agreed to set up operations in the zone will receive a 600,000-yuan grant, 20 percent higher than the city’s average amount.
Some 120 million yuan has been issued to over 300 enterprises as an incentive for research and high-tech recognition.
By 2025, WEDZ aims to boost the added value of its strategic emerging industries to 18 percent of the regional GDP. By then, the number of high-tech firms based in WEDZ is expected to hit 3,000.
