Guizhou's technology contract transactions hit record high

Guizhou's top three areas with the highest growth rate were modern transportation, advanced manufacturing, and biomedicine and medical equipment. [Photo/ddcpc website]

In 2021, Southwest China's Guizhou province had 5,592 technology contracts registered with a total transaction value of 28.93 billion yuan ($4.57 billion), which increased by 62.65 percent and 16.12 percent year-on-year, respectively.

The transactions accounted for 1.47 percent of Guizhou's GDP in 2021. The top three areas with the highest value of technology contract transactions were urban construction and social development, electronic information, and agriculture, which were valued at 11.1 billion yuan, 3.56 billion yuan and 3.16 billion yuan, respectively.

The top three areas with the highest growth rate were modern transportation, advanced manufacturing, and biomedicine and medical equipment, which increased by 141.58 percent, 91.92 percent and 63.89 percent year-on-year, respectively.

Guizhou saw 3,996 technology contracts signed by legal enterprise entities in 2021, which totaled 25.4 billion yuan in value and accounted for 87.81 percent of Guizhou's total technology contract transactions.

Guizhou's provincial capital of Guiyang achieved 10.82 billion yuan in technology contract transactions, accounting for 37.39 percent of the provincial total in 2021.

Last year, the Guizhou Provincial Department of Science and Technology continued to develop a technology market system, launched various policies to support the transfer and commercialization of scientific and technological achievements, and boosted the development of technological innovation platforms and institutions.

In the future, the department will concentrate on the construction of a complete transfer and commercialization system for scientific and technological achievements, boost the cooperation and integration of companies, universities and research institutions, and convert more scientific and technological achievements into productivity.