Twenty-five companies in Jinan, capital city of Shandong province, were included in the second batch of provincial gazelle companies, according to a list released by Shandong government on Jan 15. 

Gazelle companies refer to small and medium-sized high-tech enterprises with good potential for growth that have seen an increase in their annual revenues by at least 20 percent for at least four years, with a revenue base starting point of at least $100,000. 

The list consists of 50 gazelle benchmark enterprises and 50 gazelle enterprises covering some emerging fields such as the new general information technology, advanced manufacturing, new energy and medical care sectors. 

Accordingly, the operating revenue for these 100 companies totaled around 25.8 billion yuan ($3.7 billion) in 2017. A total of 491 invention patents, 1369 practical patents and 922 software copyrights were made in 2017 and 2016. 

The listed companies will be given a 500,000 yuan reward by the provincial finance department and also can enjoy supportive policies in tax incentives, technology research and development, innovation platform construction and listed training.  

The Shandong government plans to cultivate 300 gazelle companies and ramp up efforts to create a favorable environment to promote its high-quality development.