Xinghua in Jiangsu province is harnessing science and technology innovation projects to develop new industries and development models, with a focus on emerging and future industries.
The city regards cooperation with the Jiangsu Industrial Technology Research Institute as a top priority in developing new scientific and technological innovation projects.
Last August, Xinghua signed a strategic agreement with the Jiangsu Industrial Technology Research Institute and jointly implemented a tripartite cooperation with the Taizhou Industrial Technology Research Institute. A major project fund pool worth 150 million yuan ($20.86 million) was set up by the three parties to support project implementation.
The city is also advancing new industries through the development of scientific and technological innovation projects.
Last October, the whole grain concentrated slurry project operated by Taizhou Yiguqi Food Technology was completed. The project utilizes wet ultrafine crushing technology for grains and a unique light fermentation process to achieve the utilization of whole grains and increase the added value of agricultural products.
Efforts have also been made by the city to promote precise investment attraction through funds to support project construction. The city has already established two local funds – the Lize industrial development fund and the new quality productive forces science and technology innovation fund, worth 300 million yuan and 100 million yuan, respectively.