Yunyan gives millions in subsidies to high-tech companies

Yunyan district of Guiyang -- capital city of Southwest China's Guizhou province -- held a ceremony on May 20, for a slew of companies based there that were officially recognized as high-tech enterprises and that as a result have been awarded subsidies.

The funds -- totaling 2.91 million yuan ($455,997) -- were given to 29 companies that were recognized as national high-tech enterprises for the first time.

They were also given to companies re-recognized as high-tech enterprises and to high-tech businesses that recently became enterprises above a designated size -- the statistical term referring to firms with annual revenue of 20 million yuan or more -- as well as to enterprises above a designated size that have been recognized as high-tech enterprises for the first time.

The size of the subsidy was given according to the classification of the business and their tax payments, the highest subsidies for individual companies reaching 400,000 yuan.

In addition to granting subsidies, representatives of the science and technology bureau of Yunyan district also provided guidance to other companies on the bureau's enterprise identification policies, in order to help pave the way for the development of more high-tech companies.