Chongqing Yubei District has launched policies to support tech companies affected by the COVID-19 pandemic. It subsidized 1.935 million yuan (about USD 292, 4000) worth of guarantee service fee, paid by tech companies for the intellectual value credit loan guarantee fund (Kexindai); issued 155 million yuan worth of Kexindai for 78 companies. In total, 201 enterprises received loans valued at 350 million yuan, doubling that of the same period last year.
Data revealed by the Science and Technology Bureau of Yubei District showed that from January to September 2020, Yubei District developed 534 tech companies, increasing the total number to 2,434. A total of 355 companies received 10.65 million yuan (about USD 1.6 million) worth of reward for being recognized as National High-tech Enterprise in 2019; 201 were recommended by the District to apply for this identity in this period.
Yubei Xiantao International Big Data Valley, a way of urban innovation applied from one of the nine important aspects at Yubei.
In 2019, Yubei District invested 7.546 billion yuan in research and development, 1.728 billion yuan more than the amount of 2018. The investment made up 4.08% of the GDP, up 0.31 percentage points compared to 2018. As a result, it has completed the goal to keep the R&D expense higher than 3.5%.
When fueling the agricultural high-tech industry demonstration zone's construction, Yubei District actively worked with the Chongqing Science and Technology Bureau to identify 30 odd agricultural high-tech enterprises.
3.073 billion yuan funds for a seed round, angel round, venture capital, and Kexindai have made loans of 1.66 billion yuan to small and medium-sized enterprises. Thanks to that, 249 tech companies got rid of financing-related problems. Yubei District communicated with Chongqing Share Transfer Center and other institutions, introducing five companies to list on the science and technology innovation board. A total of 58 companies from the District contribute to 12% of the listed ones from all over Chongqing.