High-tech industry has become an important factor in improving the economy and efficiency of Shanxi. In the first quarter of 2017, the added value of the high-tech sector increased 25.5 percent.
Strategic emerging industrial projects accounted for more than 85 percent of the key science and technology research and industrialization demonstration projects in the 2017. With the support of policies and funds, there have been breakthroughs in key technologies in major industries.
In 2017, the number of high-tech enterprises in the province exceeded 1,000 for the first time, accounting for 29.3 percent of the industrial enterprises above a designated size. The total annual technology contract transactions reached 25.6 billion yuan ($3.7 billion).
The number of national-level technology business incubators and startups also increased 80 percent year on year. The first 745 technology-based small and medium-sized enterprises recognized by the Shanxi government in 2017 enjoyed more tax benefits.