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Jiaxing's innovation index was 236.2 in 2022, ranking second in Zhejiang province and increasing by 22.6 points from the previous year, the highest growth rate in the province, according to the results released by the Zhejiang Provincial Bureau of Statistics and the Zhejiang Provincial Department of Science and Technology.

Among the 33 monitoring and evaluation indicators, the enterprise R&D institution setting rate and the proportion of local fiscal science and technology allocation to local fiscal current expenditures both ranked first in the province.

As the main drivers of scientific and technological innovation, Jiaxing enterprises are enthusiastic and ambitious.

For example, Zhejiang Fulai New Materials Co Ltd, a national high-tech enterprise specializing in functional coating composite materials products, has more than 50 high-precision fully automatic production lines, and its sales revenue is expected to reach 2 billion yuan ($280.15 million) this year, with 4 percent of it invested in R&D. 

The city currently has a total of 26 provincial-level key enterprise research institutes, 298 provincial-level enterprise research institutes, and 822 provincial-level high-tech enterprise research and development centers.

Data also showed that in 2022, the number of PCT patent applications per million people in the city increased from 50.4 in 2021 to 61.3 in 2022, accounting for 11.4 percent of the improvement in the innovation index. Meanwhile, the number of high-tech enterprises per 1,000 enterprises increased from 21.5 to 24.4, contributing 10.2 percent to the improvement of the innovation index.