According to Shandong Provincial Department of Finance, in recent years, Shandong provincial finance has allocated a total of 370 million yuan to increase the support for high-growth enterprises, such as gazelle enterprises and unicorn enterprises, and facilitate their accelerated development.
120 million yuan has been arranged to award enterprises recognized as gazelle or unicorn enterprises for the first time, in order to support them to intensify their efforts to become pacemakers in emerging industries, models of transformation and upgrading, and new engines of regional innovation and development.
250 million yuan has been arranged for financial fund equity investment in 11 high-growth companies, to reduce enterprises’ financing costs and effectively support the improvement of their comprehensive competitiveness.
Up to now, Shandong has as many as 709 gazelle companies and 13 unicorn companies. High-growth companies in the province are witnessing accelerated growth and development in agglomeration, strongly promoting the industrial transformation and upgrading, and the transformation of driving forces of economic growth.