Yantai supports growth of enterprises

Yantai government has been supporting the growth of local enterprises by releasing a series of favorable measures in recent years, such as reducing rent and providing fund subsidies.

For newly identified national, provincial, as well as municipal science and technology business incubators, the city provides fund subsidies of 3 million yuan ($464,700), 1 million yuan, and 500,000 yuan respectively.

The city has reduced rent and provided subsidies for 21 science and technology business incubators, as well as university science and technology parks worth a total of 1.21 million yuan.

To date, the city has 47 high-tech business incubators that have helped cultivate 1,280 enterprises. The number and scale of science and technology enterprises have also been expanded.

Currently, the total number of national science and technology small and medium enterprises in the city has reached 2,305.

The total number of high-tech enterprises in the city has reached 1,120.

The output value of high-tech industries above designated size in the city accounted for 59.42 percent of the city's industrial output value above designated size, 4.65 percent higher than that of 2020.