North China's Shanxi province recently enacted several policies to support the new materials sector's high-quality development and expand it into a pillar industry of the province's transformation and growth, according to a circular by Shanxi Provincial Government. 

The circular regulates 27 supporting policies concerning five aspects, including enhancing the new materials industry's innovation capabilities, cultivating leading enterprises in the new materials industry, providing financial support and increasing the training of new talents and professionals.

For the top 10 enterprises in the province in terms of research and development funding input, specific incentives will be given based on their R&D investment, the circular said.

New materials enterprises with a primary annual business income of 200 million yuan ($29.93 million) and above will each receive a reward of 4 million yuan at most. 

To support the direct listing and financing of new materials private enterprises, Shanxi will offer an incentive of 2 million yuan to each of those listed on mainboards, sci-tech innovation boards, small and medium-sized enterprise boards and ChiNext markets of the Shanghai Stock Exchange and Shenzhen Stock Exchange. 

For the first enterprise, organization and institute to win first or second place of national awards for natural science, technological invention and scientific and technical progress, Shanxi will award 3 million and 1.5 million yuan, respectively, of which 70 percent will be used for R&D and tech achievement commercialization, while 30 percent will be offered to a significant researcher or research team.