Jinan, capital of East China's Shandong province, has taken concrete measures to vigorously implement an innovation-driven development strategy. Focusing on the industrial chain, the city has accelerated the establishment of a new mechanism for the transformation of scientific and technological achievements into industrial application, resulting in significant positive outcomes.

From January to November, the city's total volume of technology contracts reached nearly 74.6 billion yuan ($10.2 billion), ranking first in the province, according to a press conference organized by the provincial authorities on Dec 12 in Jinan. The revenue of its technological services industry reached 45.61 billion yuan in the first 10 months of the year, with a growth rate of 7.6 percent year-on-year.

Among the multiple measures it has taken is the hosting of regular events such as the Fund Empowering Technological Achievements Transformation and High-Value Technological Achievement Roadshow and Matchmaking Conference. Throughout this year, the city has organized seven specialized matchmaking conferences covering various industries such as the electronics, semiconductor and aerospace information industries.

These events have led to the signing of agreements on 85 projects related to the transformation of scientific and technological achievements, 47 projects related to roadshow transformation, and 14 financial institution innovation products, effectively promoting the deep integration of the innovation, industry and financial chains.

Leveraging service platforms, the city has organized 53 technological achievements transformation matchmaking activities this year, serving over 7,000 individuals and facilitating enterprise equity and debt financing amounting to 670 million yuan. Breakthroughs have been made in a number of core technologies in key fields.

In addition, Jinan supports various entities such as enterprises and universities in actively undertaking national and provincial major scientific and technological infrastructure and innovation projects. This year, 26 such projects were approved, with efforts to secure 310 million yuan in provincial funds.

The city has also launched a special campaign to enhance R&D investment across society, with R&D expenditure reaching 37.49 billion yuan in 2023, representing an 8.1 percent year-on-year increase.