In a bid to advance industrial modernization and foster new science and technology capabilities, Changzhou has unveiled 25 "Key Technology Breakthrough" projects for 2024. The city's finance department has allocated 3.84 million yuan in the first round of funding, catalyzing nearly 89 million yuan in private-sector investment to support these innovative initiatives.

This year, Changzhou has identified 36 major technological challenges across key industries, with a total funding pool of approximately 130 million yuan. The highest individual reward for any project is set at 7.5 million yuan. To ensure targeted, effective collaboration, the city has actively engaged research institutions, universities, high-tech enterprises, and innovation alliances. As a result, 25 partnerships have been formed, focusing on high-end equipment (15 projects), new materials (6 projects), renewable energy (2 projects), and electric vehicles and components (2 projects).

To stimulate rapid project launches and implementation, Changzhou has improved its financial support mechanism. While maintaining a two-phase subsidy system offering up to one million yuan per project, the city has increased the disbursement of the first-phase subsidy. Now, up to 60% of the total funding can be paid upfront, compared to the previous 30%, enabling faster financial backing to kick-start these projects.

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