Guiyang company receives loan for sci-tech achievement transformation

Recently, the Guizhou Science and Technology Department, in collaboration with the Guizhou branch of the Postal Savings Bank of China, jointly issued a policy paper on "financial and technological collaboration mechanism to support the marketization of sci-tech achievements".

Guiyang bureau of science and technology promptly disseminated and explained the relevant policies to local businesses, actively recommending eligible enterprises to apply for the "loan for sci-tech achievement transformation" from the provincial department.

In the initial installment of the "loan for sci-tech achievement transformation," Long-Range Pharmaceutical Co in Guiyang successfully secured credit loans of 10 million yuan ($1.41 million). This financial support is designated to bolster the company's development of two patented inventions. The two patents were "a method for testing sprays for tendon and bone injuries" and "a method for determining the content of sprays for tendon and bone injuries."

Established in May 1998, the company's production base is in the Guiyang National High-tech Industrial Development Zone. Its current annual production capacity includes 300 million capsules and 1.5 billion tablets.

The 10-million-yuan credit obtained this time will be mainly used to purchase traditional Chinese medicinal materials and raw materials required for the industrialization of sci-tech achievements, especially for expanding sales of sprays for tendon and bone injuries. The loan will also be utilized for market promotion of products.