The Liangjiang Coordinative Innovation Zone. [Photo/liangjiang.gov.cn]

The Municipal Science and Technology, Innovation and Talent Work Conference was held on July 10 in Southwest China's Chongqing, prioritizing the importance of sci-tech innovation and talent in enhancing Chongqing's overall strength.

Liangjiang New Area aims to become a core area for building a nationally influential sci-tech innovation center. Currently, the number of high-tech companies and technology-based enterprises in the new area has reached 788 and 4,638.

By 2022, the R&D investment intensity in places directly under the administration of Liangjiang is expected to reach 4.8 percent.

The Liangjiang New Area has established 14 national-level and 45 municipal-level innovation and entrepreneurship carriers, which have cumulatively incubated more than 5,000 enterprises.

For one thing, Liangjiang is seeking the junctures between sci-tech research and industrial development, giving full play to enterprises as market entities and governments as an overall planner and coordinator, and promoting the in-depth integration between chains of innovation, industries, capital and talent.

For the other, while encouraging the innovative development of traditional sectors, Liangjiang is also advancing the high-end, intelligent, and sustainable development of the automobile and electronic industries.

Changan has become the only Chongqing-based enterprise on the 2023 list of national top 100 innovative enterprises. Its quarterly report suggests that the company spent over 1.36 billion yuan ($189 million) on R&D, a year-on-year increase of 41.67 percent over the first quarter of this year.

Liangjiang New Area has also established a full-life-cycle fund system with a total scale exceeding 20 billion yuan.