The Zhangjiagang finance bureau has released an annual fund plan for technological innovations for the city's enterprises worth of 49.15 million yuan ($8 million) in total, according to the commission of economy and informatization of Zhangjiagang city.

The plan approved financial support for 65 projects in the city, including 32 special fund projects and 33 interest subsidy projects.

A total of 2.29 billion yuan in investment has been put into use for the projects. After the projects have reached production capacity, they are expected to turn out sales revenue of 7.82 billion yuan with additional profits worth 900 million yuan, providing 440 million yuan in tax revenue every year.

In recent years, the city's commission of economy and informatization has made many efforts to identify key areas in need of support, helping enterprises break bottlenecks in development and encouraging them to push forward technological innovations.

The input of interest subsidies for technological innovations was set to help industrial sectors in the city gain momentum for development.