Cutting-edge tech key to industry growth

time: 2019-01-22
source: Chinadaily·High-tech report

 By Yuan Shenggao

For companies in the Weifang HiTech Industrial Development Zone, innovation is the key to supporting long-term growth.

Shandong Joyance Intelligence Technology Co, a small to mediumsized enterprise, specializes in agricultural drone development and reported an average annual growth of 50 percent over the past two years. The company said innovation is the key to its rapid growth.

Joyance has partnered with Beihang University in Beijing and Zhejiang University in East China’s Zhejiang province to design products for overseas clients. By joining forces with those leading research institutes, new products are guaranteed to be introduced every year, according to the company.

Joyance’s products are exported to more than 40 countries and regions. It has become one of the top three agricultural drone developers in China, the company said.

Apart from Joyance, Weifang Litro Electrical Technology Company, an engine systems developer and manufacturer in the zone, is also working on innovation. According to Litro, one of its injection valves takes only two milliseconds to react, while other products need six milliseconds.

As high-tech companies enhance their power in the industry by promoting technological innovation, traditional companies in the zone are following the trend.

Shandong Tianrui Heavy Industry, a machinery maker, has paid close attention to maglev equipment and system development in recent years. It established a technology innovation center in Weifang in October. The company said the center marked a new starting point, which is in the industrial upgrade and transformation process.

Shandong Yinlun Heat Exchange System, a company specializing in refrigeration and emission technology development, also pays attention to environmental protection product development. Yinlun said it has partnered with Shandong University to develop emission treatment technology.

Statistics from the zone show that Shandong Tianrui Heavy Industry reported their overall year-on-year industrial output value increased 44.9 percent; Shandong Yinlun Heat Exchange System reported an increase of 23.7 percent; and Shandong Novoshine Optoelectronics reported an increase of 57.4 percent in the first nine months of 2018.

While companies have put effort into promoting innovation, the regional government has striven to enhance service quality. In recent years, the zone government has tried to improve the business innovation environment. It carried out a business cultivation plan named“Invis-ible Champion” that increased the number of high-growth companies to 33 in 2018, up from 15 in 2017.

Shandong Huali Machinery Technology is a freeze-proofing system developer in the zone. Its freeze-proof bolts can work at the temperature of -50 C.

Sun Zhanbiao, general manager of Huali, claimed that a reduced consumption of water during winter was caused by burst pipes. However, a need for major investment and a lack of financial support made the progress difficult for the company.

Huali then moved into Weifang Optoelectronics Industrial Park in the zone. The park provided strong professional, technological and financial support to Huali, said Sun.

The company has now demonstrated its products in more than 30 places around China. As a result, its annual sales growth rate has increased 15 percent year-on-year.

Wang Lian contributed to this story.