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Many products patented by Nantong Wealth Machinery Technical Co are displayed. [Photo/cpcrugao.cn]

Nantong Wealth Machinery Technical Co, which is located in Rugao Economic and Technological Development Zone in Nantong, East China's Jiangsu province, has been focusing on research and development to pursue sustainable growth.

The company boasts more than 200 patents, including 58 invention patents and 138 patents for utility models. All of its research results have been developed into products and promoted to the market place. It has also been engaged in the formulation of 40 national or industry standards.

According to Shi Chuanming, managing director of Nantong Wealth Machinery Technical Co, the company will apply for five more patents this year and two national standards regarding safety and sanitary standards for food machinery are currently under examination.

Innovation and intellectual property rights are crucial to a company's competitiveness in the market, he added.

Rugao recently announced 23 measures to increase government and financial support for innovation in local companies. For example, patents are allowed to be mortgaged to raise funds and the money can be reinvested into further research to begin the cycle again.

A picture of the technology center at Nantong Wealth Machinery Technical Co. [Photo/cpcrugao.cn]