Enterprises in Nanming receive provincial subsidy of 6.7m yuan

Recently, seven enterprises in Nanming district in Southwest China's Guizhou province successfully applied for a total of 6.7 million yuan ($917,808.22) of research and development subsidies earmarked for provincial-level industrial enterprises above designated size in Guizhou.

Guizhou Zhongke Molecular Biology Co is one of the beneficiaries.

"The timely arrival of the subsidies provides a strong financial guarantee for our company's independent R&D. With the support of the government, we believe that our company's path of innovation will be even more resolute," said Zeng Weiqin, a director of the company.

The firm will use the subsidy to fund its research into the extraction and separation methods of multiple components of Ganoderma lucidum, Zeng added.

In addition to Guizhou Zhongke Molecular Biology Co, many other Nanming enterprises also recognize the importance of technological innovation as a key competitive advantage.

In recent years, Nanming has been supporting businesses in increasing their R&D investments. Policies have been introduced to promote enterprise development by providing a wide range of services, including assisting with high-tech enterprise applications, R&D fund subsidies, the construction of innovation platforms, and project application support.

Statistics show that in 2023 enterprise R&D investment in Nanming reached 30 billion yuan.