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New innovation hub emerges in Shandong

By Li Jiaying | | Updated: 2023-12-10 11:11
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Eyeing better integration into the Beijing-Tianjin-Hebei region, the business incubator in Qihe county of Shandong province is becoming a new innovation hub for State-level high-tech companies and province-level engineering laboratories to bolster high-quality development of the country.

"We are promoting our companies and industries to closely cooperate with universities and institutions in Beijing and Tianjin, by integrating Zhongguancun's entrepreneurial ecosystem and concept with the local demand for industrial transformation and technological innovation," Zhai Minggang, director of Zhongguancun E Valley (Qihe) Incubator, told China Daily.

The incubator has cultivated more than 10 national-level high-tech companies and developed two provincial-level key engineering laboratories. The accumulated operating incomes of incubated companies have exceeded 2 billion yuan ($279.3 million), Zhai added.

Integrating into the coordinated development of the Beijing-Tianjin-Hebei region has been an important measure for Qihe to raise its opening-up standard and acquire external resources, according to the local government.

So far, the county has carried out 23 investment promotion events for the Beijing-Tianjin-Hebei region this year, with new contracts on two major energy projects signed, another 10 relevant projects under construction and seven technological achievements put into commercial operation. Among them, investments into two industrial parks have exceeded 1 billion yuan.

A slew of key projects have also been put into operation in the Qihe High-tech Industrial Development Zone, an important platform for Qihe to integrate into the coordinated development of the Beijing-Tianjin-Hebei region. The zone aims to attract and develop emerging industries including new materials, biomedical and medical devices, and e-commerce.

The joint efforts from local governments and Zhongguancun, Beijing's high-tech hub, to push for industry-level innovation are of great significance for the country's drive for further industrial upgrading and high-level development, and is also positive for the nation's economic recovery for this year and the next, according to Yang Weiyong, an associate professor of economics at the University of International Business and Economics.

"The innovation capability of the country lies in individual companies and local governments at grass-root levels. Thus the cooperation and efforts made by local governments at all levels and State tech hubs will make a big difference in enhancing the nation's innovation prowess," Yang said.

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