The Zhejiang Provincial Committee and Provincial Government issued opinions on building a first-class innovation ecosystem to create the most competitive business environment. The opinion points out that high-tech enterprises and technology-based small and medium-sized enterprises play a fundamental role. Implement actions to improve the R&D capacity of industrial enterprises in accordance with regulations, and steadily increase the coverage rate of enterprise R&D institutions and the intensity of R&D investment. Improve the mechanism for cultivating high-tech enterprises. Strengthen entrepreneurship counseling services, explore the establishment of an active discovery mechanism for high-quality enterprises, support scientific and technological innovation “lay eggs along the way”, and support advantageous enterprises to divest themselves from the scientific and technological innovation business and establish new companies. Deepen the implementation of nurturing actions such as the “Junior Promotion Rule”. Innovate the service system for small and medium-sized enterprises and establish a companion growth model for key micro, small and medium-sized enterprises. By 2027, the number of technology-based small and medium-sized enterprises will reach 160,000, and according to regulations, R&D expenses of industrial enterprises will account for about 3.4% of revenue. By 2030, the number of high-tech enterprises per 10,000 regulated industrial enterprises will reach 5,000, and R&D expenses of regulated industrial enterprises will account for about 3.5% of operating income.

The Zhejiang Provincial Committee and Provincial Government issued opinions on building a first-class innovation ecosystem to create the most competitive business environment. The opinion points out that high-tech enterprises and technology-based small and medium-sized enterprises play a fundamental role. Implement actions to improve the R&D capacity of industrial enterprises in accordance with regulations, and steadily increase the coverage rate of enterprise R&D institutions and the intensity of R&D investment. Improve the mechanism for cultivating high-tech enterprises. Strengthen entrepreneurship counseling services, explore the establishment of an active discovery mechanism for high-quality enterprises, support scientific and technological innovation “lay eggs along the way”, and support advantageous enterprises to divest themselves from the scientific and technological innovation business and establish new companies. Deepen the implementation of nurturing actions such as the “Junior Promotion Rule”. Innovate the service system for small and medium-sized enterprises and establish a companion growth model for key micro, small and medium-sized enterprises. By 2027, the number of technology-based small and medium-sized enterprises will reach 160,000, and according to regulations, R&D expenses of industrial enterprises will account for about 3.4% of revenue. By 2030, the number of high-tech enterprises per 10,000 regulated industrial enterprises will reach 5,000, and R&D expenses of regulated industrial enterprises will account for about 3.5% of operating income.