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Hainan to form a group of key high-tech companies in the coming years

The Hainan authorities intend to create a group of key high-tech enterprises in the next few years in order to further unleash the potential in the development of local industry, www.hinews.cn reported citing a document presented by the provincial Science and Technology Office.
The plan to provide special support to companies in three emerging industries will kick off on October 3. This concers digital economy, new petrochemical materials and modern biomedicine.
By 2023, the local authorities expect to create 200 small and medium-sized enterprises with original technologies and good market potential, 50 so-called gazelle companies (fast-growing companies) showing competitive creativity, as well as 20 leading enterprises with strong potential and contribution to the province's industrial development. 
High-tech companies play a leading role in promoting scientific and technological innovation in Hainan's economy, which is striving to create a high-tech industry. The relevant tasks were set in the program for the construction of Hainan's free trade port, adopted in 2020. At present, according to the news outlet, more than 1,000 high-tech companies are registered in the province, which is almost six times the figure for the period of the thirteenth five-year plan (2016-2020).