People work at an electric car manufacturing center owned by Jiangsu Saleen Automotive Technology Co in Rugao, a county-level city in Nantong. The center received 17.8 billion yuan ($2.59 billion) in investment and started trial operations in early 2019. [Photo/zgnt.net]

The registered technological contract turnover in Nantong, East China's Jiangsu province, increased 127.4 percent year on year in 2019 to 11.03 billion yuan.

According to statistics from the city's science and technology bureau, the total value of technological imports and exports in the city put it at fourth place among cities in Jiangsu province.

Technological contract turnover reflects the strength of technological trade in a region, as well as its ability to develop and commercialize technology.

In 2019, Nantong strengthened its management of registration processes and enhanced the working capacity of staff at relevant departments by holding more than 10 training sessions and promotional events.

The local government has placed much emphasis on the city's pillar industries, which include shipping, marine engineering, and electrical information, as well as key industrial areas, such as Chongchuan district and Qidong, to ensure that the achievements of national and provincial-level sci-tech projects are registered in a timely manner.

By registering technological contracts, more companies have been able to benefit from preferential policies related to taxation, loans, and subsidies.

Statistics showed that Nantong handed out 1.93 million yuan in subsidies to the technological sector in 2019.