Zhangjiagang, a county-level city in Suzhou, East China's Jiangsu province, aims to attract 1,000 high-tech projects and add 300 new high-tech companies by the end of 2021, according to a Xinhua Daily report.
High-tech projects refer to those that have own intellectual properties or exclusive technologies, or have received more than 300,000 yuan ($47,352) in talent subsidies from the governments of other cities.
Zhangjiagang will focus on projects related to strategic emerging sectors such as new energy, semiconductor and intelligent high-end equipment. It will also make full use of favorable policies to attract talents, said Cai Jianfeng, the mayor of the city.
At a meeting on Feb 6, Zhangjiagang launched a high-tech project attraction center made up of 11 members with extensive knowledge of local industries.
According to the Zhangjiagang bureau of financial supervision and management, the city will also establish a fund worth 500 million yuan to support tech companies that are small or at the early stages of development.
The city's efforts to attract high-tech businesses are expected to bring new opportunities to local enterprises as well as prompt them to transform and upgrade, said Wu Yi, president of Jiangsu Yonggang Group, a steel manufacturer in Zhangjiagang. The company will introduce more innovations to develop steelmaking as well as new energy, architecture, environmental protection and financial trade businesses, added Wu.