On June 27, Hangzhou Municipal Science and Technology Bureau held the Hangzhou Semi-annual Scientific and Technological Work Conference & the Second Quarter Scientific and Technological Innovation Situation Analysis Meeting, to summarize the scientific and technological work in the first half of the year and analyze and deploy the work in the second half of the year. 

From January to May this year, the R&D expenditure of the industries above the designated size in the city reached 27.04 billion yuan; the investment in the new and high-tech industries increased by 39.7% from a year earlier; the added value of high-tech industry reached 120.87 billion yuan; the total transactions of technology contracts reached 45.1 billion yuan, ranking the first in the province; and 2,405 provincial sci-tech SMEs were newly identified, with the annual target completion rate of 120%. The conference also introduced the architecture and features of the “Sci-tech Brain + Paradise E-innovation”. In the second half of this year, Hangzhou will continue to focus on building a new paradise for innovation and entrepreneurship.