Informed by the Provincial Science and Technology Department a few days ago, reporters have learned that the Fujian Province is issuing an incentive fund of 100 million yuan for the R&D investment of 185 small-enterprise tech giants. This will drive the annual R&D investment of enterprises to nearly 2 billion yuan. Among these 185 enterprises, 79 of them have been awarded incentives for two consecutive years. The average growth rate of R&D expenditures for these enterprises in the last two years has exceeded 55%, and the average growth rate of operating income has exceeded 46%.

According to requirements by the provincial party committee and the provincial government - of stepping up support for technology, preventing and controlling the pandemic, and enabling the development of the economy and society - the Fujian Province is actively fostering and developing small-enterprise tech giants. At present, the total number of small-enterprise tech giants has reached 2,425 enterprises. Data on R&D investment, operating income, and earnings of these enterprises have improved significantly since last year. Small-enterprise tech giants in strategic emerging industries have maintained double-digit growth in net profit margin and spearheaded the growth rate of other industries, particularly in biotechnology and new medicine, advanced materials, high-end equipment, and new energy. For example, the average net profit increase of biotechnology and new medicine soared to 143.2%, the average net profit of advanced material enterprises increased by 34%, and the average net profit of new energy enterprises is at 31.7%. Small-enterprise tech giants are gradually becoming a burgeoning force, propelling medium-to-high-speed economic growth in the Fujian Province and facilitating the transformation towards mid-to-high-end level development.