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The Qingdao Economy and Information Technology Commission has organized 204 companies to carry out 567 innovation projects recently. The R&D budget reached CNY 3.07 billion, and the company, project, and R&D budget are 3.8, 4.3 and 9 times higher over the same period of 2016. After the projects launch production, another CNY 20 billion revenues and CNY 2.7 billion tax are expected to be achieved per year.

Among the 1st batch of these 567 innovation projects, 79% of them are IT, household electrical appliance, equipment, auto, and rail transportation projects, which are ten 100-billion-industry-chain projects. 14% of the projects are biomedicine, new energy, new materials, energy-saving, and eco-friendly and light industry, the rest of the 7% are productive service, construction industry, and modern agricultural projects. R&D budget for 49% projects are between CNY 1 and 3 million, 37% are lowers than CNY 1 million, only 14% of them are over CNY 5 million. 91% of these projects are with technologies developed by the enterprises, partnering development and authorized development only account for about 10%. Innovation research and application of big data, cloud platform, human-machine interaction, online monitoring, smart manufacturing, and robot have won increasing attention of Qingdao enterprises. (Lin Gang)