The high-tech sector in Dongying city – located in East China's Shandong province – saw vigorous growth last year, contributing nearly half of the city's industrial output.
According to the latest data, high-tech industry output increased by 9.39 percent compared with the previous year, accounting for 49.37 percent of total output. As such, it became a major force in driving innovation and played a key role in the city's high-quality development.
What's more, the structure of Dongying's high-tech industries is continuing to be upgraded. In fact, the total output and growth of high-tech industries there are among the top in the province.
When the final figures come in, the number of high-tech enterprises in Dongying is expected to have exceed 920 last year, doubling in three years.
A growing number of companies are taking the lead in innovation and are mastering core technologies – playing a pivotal role in the development of new productivity.
Adding to the momentum, investment in high-tech industries is steadily increasing. Fixed-asset investments have grown rapidly – with high-tech industry investments accounting for over 50 percent of industrial fixed-asset investments.
Additionally, research and development expenditure last year topped 10 billion yuan ($1.37 billion), with Dongying leading the province in the proportion of manufacturers with R&D activities.
Overall, the high-tech sector is becoming the fastest-growing industry for effective investment in the city.
