Innovation vouchers to help Guangzhou SMEs to buy research services

Small and medium-sized enterprises in Guangzhou, the capital of Guangdong province, will be allowed to apply for innovation vouchers, or small lines of credit provided by the local government to purchase scientific research services, according to a top official of the local government.

The move is part of the initiatives issued by the local government to boost innovation and technology development, said Chen Jianhua, mayor of Guangzhou.

"They might not be big financial support for SMEs, but the innovation vouchers are more like letters of credit issued to companies, especially those engaged in emerging innovation-driven industries, which are supported by the government," said Chen.