High-tech firms reap benefits of policy support in Guangzhou

Chinese drone manufacturer Ehang Inc, a company based in Guangzhou, the capital of Guangdong province, has benefited a lot from the city's preferential policies to support the development of new and high-tech industries over the past few years.

For example, the company's taxable income, which was deducted from the expenses for research and development, totaled more than 20 million yuan ($3.02 million) in the past two years.

"The preferential tax policies has helped reduce the financial burden. We could invest more in technology research and development, which in turn has helped make our products more competitive in the global market," said Liu Jian, deputy financial executive director with Ehang.