Xiaodian district in Taiyuan, capital of North China's Shanxi province, recently issued incentives to boost the development of the science and technology service industry.
Xiaodian encourages science and technology service enterprises to improve their services, and provide one-time financial subsidies of at most 1 million yuan ($143,671.40), 500,000 yuan, 200,000 yuan, 100,000 yuan and 50,000 yuan respectively for each enterprise that leads or participates in the formulation and revision of international standards, national standards, industry standards, local standards, and group standards.
Technology transfer institutions recognized by Shanxi province and Taiyuan city will be rewarded 3 percent of the transaction service fee, with a maximum reward of 1 million yuan, when carrying out technology transaction intermediary services.
A reward up to 500,000 yuan will be given to an enterprise settling in at the science and technology service cluster in Xiaodian district. Another criteria is that these enterprises must have a revenue exceeding 10 million yuan in the previous year with a growth rate of over 20 percent, and their scientific and technological service revenue must have accounted for over 60 percent of their total revenue.
The district also encourages technology service enterprises that meet the requirements to list themselves, as enterprises listed on Beijing Stock Exchange will be awarded up to 500,000 yuan.