The Guizhou Provincial Industry and Information Technology Department and the Guizhou Provincial Finance Bureau recently released their 2018 list of Technological Innovation Enterprises. Three companies from the city of Guiyang made the list, according to the Guiyang Industry and Information Technology Commission in a statement on Dec 11.

The three companies are Guiyang Xintian OETech Co Ltd, Guizhou Wylton Chemical Co Ltd and Guizhou Jingcheng Pharmaceuticals Co Ltd. According to city policy, they will each receive an award of one million yuan ($145,545).

Provincial technological innovation enterprises that made the list will be evaluated every three years and those that are deemed unqualified will be removed from the list. Listed enterprises will increase investment in technological innovation to help develop a competitive technological innovation system.

In recent years, Guiyang has deepened supply-side structural reform in the industrial sector. The city's traditional industries have undergone a drastic transformation due to technical changes and the integration of big data and real economy.

Guiyang currently has five state-level and 18 provincial-level technological innovation demonstration enterprises.