Business is brisk: A panoramic view of Baishan city in Jilin province [Photo/Baishan municipal government]

Baishan city – located in Northeast China's Jilin province, has issued a three-year action plan aimed at developing and strengthening its business entities – ranging from sole traders, to partnerships and large companies, according to the city's municipal government.

Under the plan, in 2022-2024 it will move to register more than 46,000 new business entities, including more than 9,800 enterprises and more than 600 "individual-to-enterprise" enterprises. At present, there are 121,000 business entities in the city and by 2024 the number is expected to exceed 144,000.

Baishan plans to develop a group of leading enterprises in industry – as well as cultivate a group of enterprises that are professional, sophisticated, distinctive and modern, and support a group of listed companies in the three-year period.

The city will also move to vigorously cultivate technology-based small and medium-sized enterprises, or SMEs.

Following the regulations of the Ministry of Science and Technology, Baishan will identify innovative technology enterprises in the city every year and organize for scientific and technological enterprises to carry out national SME science and technology evaluation.

Those tech-based SMEs that pass the evaluation can enjoy a pre-tax deduction on research and development expenses. It is estimated that by 2024, the city's tech-based SME evaluations and filings will stand at 50.

Enterprises that can meet the requirements can apply for accreditation as innovative technology enterprises in Baishan city. After being identified, subsidies will be given for projects from the funds of the Baishan City Science and Technology Development Plan. 

It is expected that this will encourage and support enterprises to increase their investment in scientific research, as well as boost their sci-tech innovation capabilities. It's envisaged that by 2024, the number of high-tech enterprises in Baishan will reach 36.