Sci-tech City reaches for the stars

Lingang-Songjiang Sci-tech City has recently been listed among the third batch of national demonstration bases for small and micro start-up and innovation.

Lingang-Songjiang Sci-tech City has recently been listed among the third batch of national demonstration bases for small and micro start-up and innovation.

The industrial park gathers more than 830 enterprises, including 16 listed companies, 69 hi-tech companies, 17 little scientific giants, 13 enterprises technology centers and 27 companies with specialties. It is also the largest 3D printing industry cluster nationwide.

Among those settled in the park, 75 percent are in the field of science and technology and over 90 percent are medium, small and micro-sized enterprises.

Last year, its total output hit 35 billion yuan (US$5.3 billion) with 1.5 billion yuan in tax. It is constantly attracting high-end headquarters and technology centers as well as fast-growing SMEs to stay and has been approved as demonstration parks on micro-electronics, productive service industry, intellectual property and 3D printing, among other titles.

The park is also counted as a broader area of Zhangjiang to focus on hi-tech industry development.

For support on procedures, Wu Liying Workshop in the park provides one-station administrative services for innovative and start-up SMEs. Steps like settling guidance, tax registration and communication with governmental sectors can be done in the entrepreneurs’ stead.

In the past year the workshop aided in registering 392 companies and changed items for 526 times.

The district administrative service center and tax office also set up branches in the park to cut short the process.

Financial supports are in place. So far Lingang-Songjiang Equity Investment Fund has put 126 million yuan on surging industries like smart hardware, additional material manufacturing and medical health.

Bank of Communications Xuhui branch also offered a hand to build a credit financing platform with a scale of 30 million yuan to SMEs. It has given over 100 million yuan of loans to 69 companies in the park. Under such support from governmental funds and the financing platform, companies in the park are thriving with office space expanded, staff growing, orders flooding and income doubled or even tripled.

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