5.89m yuan issued to boost innovation in Baotou

Baotou city’s bureau of finance has recently issued a total of 5.89 million yuan ($890,000) to encourage scientific and technological innovation and entrepreneurship in the city, according to local media.

The largest city of North China’s Inner Mongolia autonomous region was selected as one of one hundred Chinese cities for entrepreneurs earlier in February.

The city has been making great strides to become an innovation-oriented city and now boasts 10 autonomous region-level makerspaces to encourage innovation and entrepreneurship. A total of 485 enterprises have been established in them so far. Total revenues reached 100 million yuan ($14.56 million) by the end of 2016. 

Makerspaces in Qingshan district, Baotou, Inner Mongolia autonomous region, hold regular training sessions to drive innovation in the district. [Photo/Baotou Daily]