A total of 14 companies in the Pingtan Comprehensive Pilot Zone, Fujian province, were rated as city-level small and medium-sized technology enterprises at an award ceremony on Nov 30.

Companies rated as city-level small and medium-sized technology enterprises are granted with credentials in Pingtan Comprehensive Pilot Zone, Fujian province, on Nov 30. [Photo/ptnet.cn]

The rating is part of Pingtan's moves to encourage innovation in technology. Companies that win the honor are eligible for a subsidy of 50,000 yuan ($7,264), gain priority in applying for provincial and national technology projects, and enjoy benefits in investment, finance, and incubation services.

The credentials remain valid for three years, after that time companies have to resubmit their applications materials. The move is expected to push companies to keep pursuing innovation.

Enterprises eligible for the rating must have had a turnover of more than 1 million yuan in the previous year, and have applied or obtained at least two proprietary intellectual property rights or one patent.

There is no restriction on industry type. This year's award winners range across a variety of industries including fisheries, aquatic products, biotechnology, and energy.

Zhong Weixu, operation manager of Pingtan Zongren Technology Co, one of the companies rated as city-level small and medium-sized technology enterprises, gives an interview. [Photo/ptnet.cn]

Pingtan Zongren Technology Co, a company specializing in integrated circuits (IC), was one of the winners. Its operation manager Zhong Weixu said the honor makes it easier for them to gain recognition in the IC industry.

In addition to the rating, Pingtan also rolled out a series of supportive policies to boost development of local tech companies.

Weng Zuchao, head of the technology department of the local social affairs bureau, said that he hopes companies will take advantage of the policies to further their development. Weng added that they plan to organize exchange activities for Pingtan and Taiwan entrepreneurs to promote cross-Straits technology cooperation.