90% R&D investment from enterprises
- Details
- Category: Ningbo Business
- Published: Tuesday, 01 July 2014 10:03
Yao Lijun, the general manager of Konfoong Materials International, said, "Every year we will invest 20million for R&D, and the return is 70% sale growth". The company will invest 150million for the third phase construction.
"Innovation, is like the heart of our enterprise, can never stop", said Xu Jianyi, the General Manager of Ningbo Jansen Mechanism Corp. In the recent years, the annual sale growth of the company surpassed 40% and it has a over 50% share of the global permanent magnet market. He said, "we will use 10% of the annual sale for R&D. It is very rewarding". Recently, the company has designed the first 0.7T open MRI with superconducting magnet system in China, and the 3rd in the world. The machine was developed independently by the company and has passed the examination. It is estimated that the output value will exceed 1 billion.
Traditional enterprises as well as High-techs all attach great importance to innovation. CW Bearing, which started its business from miniature bearing manufacturing, suffered a great loss in the 2008 financial crisis. However, due to the development of new products, the enterprise has survived the crisis and has begun a new life. "To win the market with innovation is the truth we learned from the practice." In the past two years, its R&D investment reached historical peak and the profit also increased rapidly. The new products contributed about 90% to the development.
"With the deepening of the industrial restructuring in Ningbo, more and more enterprises invest more in new products development. And the R&D investment of enterprises is increasing rapidly. It results from both the guide of the government and the voluntary choice of the enterprises in order to adapt to the market competition," official from the Municipal Science and Technology Bureau said. Currently, enterprises have played a leading role in National Science and Technology Planning Program application, introducing talents, patents application, and winning National Science and Technology Award and Zhejiang Provincial Science and Technology Progress Award.
The enterprises have been well paid for their innovation. In the first 4 months of this year, the total industrial output of new products amounts to 88.84 bn, up 14% from last year.
