Guangzhou Science City. [Photo by Li Jianfeng]
Guangzhou's Huangpu district had 392 companies included in China's third batch of high-tech companies of 2021, local media outlets reported on April 14.
A total of 812 companies in Huangpu won this honor last year, the most among all districts in Guangzhou, and its total number of national high-tech companies has exceeded 2,200, which is even more than some cities in Guangdong province.
Companies above designated size in Huangpu can receive an award of 1 million yuan ($156,957), while others will receive a 300,000-yuan reward. Companies who earn the title of national hi-tech company for the first time can receive a 200,000-yuan incentive from the city.
Title recipients are also able to enjoy a 40 percent discount in taxation, with their tax rate lowered to 15 percent from the standard 25 percent.
Huangpu district has set goals like selecting 450 gazelle companies and adding 100 more national high-tech companies in 2022 to build the district into the most powerful one citywide in terms of the commercialization of research findings.