Since Northwest China's Shaanxi province launched construction work on the Qinchuangyuan innovation-driven platform in 2021, the provincial capital Xi'an has been offering support to the project.

Xi'an develops the Qinchuangyuan platfrom. [Photo/Xi'an news network]

Xi'an has issued nine special policies related to the platform's general window, and several measures to promote the development of the equity investment industry.

The revision of the platform's data system has been accelerated, and all districts, counties and development zones in Xi'an have already been connected to the Qinchuangyuan digital platform.

In addition, three incubators in the city were selected as national incubators, and 55 new municipal-level gazelle enterprises have been cultivated. Gazelle companies are fast-growing and have base revenues of at least $1 million and four years of sustained revenue growth.

The city has carried out a total of 150 industry-university-research fund coordination activities since last year, and promoted 428 projects involving transformation of scientific and technological achievements.

The city's technology contract turnover was 220.95 billion yuan ($32.9 billion) in 2021, ranking second among sub-provincial cities with a year-on-year increase of 34 percent.

In addition, Xi'an has promoted the construction of a national new-generation artificial intelligence innovation and development pilot area and a key & core technology innovation demonstration area. It has also supported enterprises to carry out research on artificial intelligence technology, application scenario demonstrations and social experiments.

Moving forward, Xi'an will promote a business multiplication plan, give full play to the guiding role of the Xi'an Venture Capital Fund, and roll out a Qinchuangyuan special talent policy to further strengthen the construction of the Qinchuangyuan platform.