A robot assembles auto parts at a workshop in Qingdao, East China's Shandong province on Jan 30, 2023. [Photo/VCG]

In recent years, the number of small and medium-sized enterprises (SMEs) involved in science and technology in Qingdao has expanded rapidly thanks to the local government's support.

Last year, the city launched a three-year action plan for accelerating the cultivation of science and technology enterprises.

It has launched a slew of measures and policies to support companies in making innovation in technologies, management, and business forms, translating innovation outcomes into actual productivity at a faster pace.

Efforts have also been made to promote development of the service, high-tech, and emerging sectors, as well as to optimize and upgrade the economic structure, in order to achieve rapid development of the regional economy.

In 2022, the number of technology-based SMEs in Qingdao reached 7,050. It is expected that the number will exceed 10,000 by the end of 2024, which will become a more powerful new engine for promoting high-quality urban development, said local officials.