Domestic companies thrive with support
Businesses in the Weifang Hi-Tech Industrial Development Zone are working to capture the spirit of China’s innovation-driven development strategy.
Weifang Litro Electrical Technology Company, an engine systems developer and manufacturer in the local Blue Wisdom Valley, introduced a new injection technology, known as multi-point sequential injection control, in early 2016.
“In previous years, singlepoint, pre-mixed systems supplied by foreign developers including Woodward in the United States and Bosch in Germany were widely used by major engine producers in China. That technology has explosive risks,” said Wang Xiuqiang, deputy general manager of Litro.
“Developing new injection technology to improve the overall performance of engines has long been a common goal of local engine businesses,” Wang said.
The newly developed technology improves natural gas engines’ overall performance and reduces gas consumption significantly, according to the company.
“The patent helped us generate more than 20 million yuan ($2.9 million) in extra income in 2016. We expect Litro’s overall sales revenue to reach 50 million yuan in 2017 and 200 million yuan in 2018,” Wang said.
Weifang Conqueren Bioscience & Technology Co, a fish feed developer, is another leading innovator in the development zone. Clients’ feedback shows the company’s fish feed can better support growth of young fish than their imported counterparts.
“Conqueren won clients’ recognition and has maintained business growth with quality products,” said Yu Haichao, deputy general manager of Conqueren.
Yu said the company has registered two invention patents and 76 utility model patents.
“We will continue to focus on new product development and innovation,” Yu said.
Local authorities strive to provide all the necessary support to encourage innovative businesses in the zone. Five support platforms have been established in the Binhai Industrial Park to support development of the local marine economy. Top Chinese scientists, including Mai Kangsen from the Ocean University of China, have been attracted to the park.
Officials revealed that the zone has taken steps to strengthen intellectual property rights protection to stimulate and protect local innovators’ passion.
“We upgraded and reviewed the zone’s incentive policies on intellectual property development to encourage businesses to strengthen innovation in 2016,” said Chen Bingzheng, director of the technology bureau of the development zone.
He said the companies are interested in creating, protecting and managing their intellectual property. Those policies aim to strengthen businesses’ innovation capacity and core competitiveness.