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Source: Technology Library http://yunrun.com.cn/tech/ Recently, the Ministry of Science and Technology issued the \"Several Policy Measures to Support the Accelerated Innovative Development of Small and Medium-sized Technology-Based Enterprises in the New Era,\" with the aim of promoting the innovative development of such enterprises from various aspects. To help people understand the content of this document in greater detail, officials responsible for achievements and regional development at the Ministry of Science and Technology also provided interpretations of it. Innovation can be considered one of the key factors for a company’s development, especially in the manufacturing industry. From mechanical meters to the various smart meters available today, such as ultrasonic remote reading water meters and multi-functional electricity meters, what has been transformed is not only the technology itself, but also the fortunes of thousands of companies; many of these companies were eliminated from the market due to outdated technology in the fierce competitive landscape. It is also undeniable, however, that it is very difficult for instrumentation companies to grow and become stronger in their early stages of development. This is not only due to funding constraints but also stems from a shortage of skilled scientific and technical talent as well as difficulties in accessing innovative resources. Therefore, support from both policy measures and the market is needed in order to drive progress across the entire industry. The release of this document is like a timely rain for the instrumentation industry. To encourage small and medium-sized enterprises to engage in research and development, the document will provide practical support in these seven areas to help such enterprises accelerate their innovative development. Firstly, in terms of the size of technology-based small and medium-sized enterprises, China will improve the system for fostering innovation and entrepreneurship, encourage researchers to engage in such activities, and strengthen evaluation mechanisms, with the aim of encouraging more small and medium-sized enterprises to be included in the national database of such enterprises. In the future, the development and incubation of technology-based small and medium-sized enterprises will be included in the evaluation index systems for **high-tech zones**, **independent innovation demonstration areas**, as well as innovative provinces, cities, and counties (cities), thereby encouraging various regions to pay more attention to such enterprises. Secondly, in terms of financial support, **the percentage of additional deductions for R&D expenses of technology-based small and medium-sized enterprises will be increased; corporate income tax, as well as value-added tax and income tax on technology development and technology transfer, will be reduced or exempted. Small and micro-profit enterprises will be exempt from value-added tax and income tax, thereby providing direct support for their R&D activities. At the same time, **local governments at all levels will also be encouraged to establish special funds for supporting technological R&D in small and medium-sized technology enterprises, as well as special funds for innovation vouchers. These funds will be used to provide rewards or post-subsidies to various service providers that assist such enterprises, thereby strengthening venture capital investment and expanding the financing options available to them. Innovation funds will also be set up to offer convenient pathways for high-quality enterprises to raise funds by going public on the ‘New Third Board’ or the Science and Technology Innovation Board. Next, in terms of enhancing innovation capabilities, **efforts will be made to encourage research institutions, universities, and large enterprises to establish management platforms for the open sharing of scientific and technological resources. This will facilitate the sharing of research instruments and experimental facilities with small and medium-sized technology-based enterprises, and guide the transformation of research results and the provision of innovation services tailored to the needs of such enterprises. Conditional small and medium-sized technology-based enterprises will be supported in applying to be recognized as high-tech enterprises, and in participating in the establishment of technology innovation centers and enterprise key laboratories, as well as in leading the application for research and development projects.** According to statistics, in 2018, there were 131,000 science and technology-based small and medium-sized enterprises registered nationwide. In 2017, 84,000 such enterprises benefited from the preferential policy allowing for additional deductions for R&D expenses; the total amount of such deductions amounted to around 150 billion yuan, resulting in tax savings of approximately 37.5 billion yuan. National universities and research institutions served over 200,000 enterprises each year on average, which helped to reduce duplicate spending by about 20.7 billion yuan. Through the implementation of the above measures, the scale of technology-based small and medium-sized enterprises will be further expanded, encouraging them to engage in technological research and development. Next, the Ministry of Science and Technology will also establish a working group to promote the innovative development of science-and-technology small and medium-sized enterprises, formulate a plan for task allocation, clarify responsibilities and timelines, monitor the development of such enterprises, and adjust and improve policy measures as needed. For small and medium-sized instrument and meter companies, this will serve as an important catalyst for their rapid and innovative development.