The Hai'an High Tech Zone in Nantong, East China's Jiangsu province, has made strides in innovation, local media reported.

In 2021, the taxable turnover of the zone was over 10.11 billion yuan ($13.95 billion), ranking first among provincial high tech zones in the northern areas of the Yangtze River.

To reduce innovation pressure on enterprises, the zone has made efforts to reduce enterprise income taxes and research and development expenses.

The preferential amount in this respect has reached 250 million yuan per year.

Hai'an also established a bank to provide financial support to innovative enterprises in the city. To date, science and technology enterprises in the zone have raised funds of 260 million yuan.

The industries of new materials, high-end equipment manufacturing and electronic information have been the focus of advanced technological innovation in the zone.

To date, the number of enterprises in this respect has reached 230, accounting for 70.3 percent of the zone's total enterprises.

In addition, the zone has been focusing on cooperation between enterprises and research institutions.

It has established two national-level enterprise research centers and one national research center for engineering and technology.

The zone has also established a risk monitoring platform to ensure the security of innovative development. The platform to date has recorded 674 enterprises and achieved a rectification rate of 97.5 percent.