According to Shandong Provincial Department of Finance, in order to support the development of high-tech enterprises, Shandong has recently issued 190 million yuan in funds as financial subsidies to 1,858 micro, small and medium enterprises (MSMEs) recognized as high-tech enterprises for the first time.
Seen from a sectoral perspective, the numbers of MSMEs newly recognized as high-tech enterprises in advanced manufacturing, electronic information, new materials, and high-tech service industries reached 611, 332, 300, and 230 respectively, accounting for 79.2% of the total.
Seen from a locational perspective, nearly half of the cities in Shandong have more than one hundred enterprises benefiting from the financial subsidy policy, topped by Jinan city, with 622 enterprises subsidized.