Quanzhou, Fujian province is gaining its uttermost momentum in the development of emerging industries and the transformation and upgrading of economic structure, said local officials. 

According to the economic and social development achievements report released by the Statistics Information Bureau of Quanzhou, by 2018, Quanzhou has 18 colleges and universities with 35,200 college graduates, which is 9.5 times that of 2000, providing a solid foundation for the city’s high-level scientific and technological talent team. 

In 2018, the number of research and development talents in Quanzhou was 35,800, which was 2.8 times that of 2009, with an average annual increase of 11.9 percent. 

Financial investment in science and technology has increased year by year.

Quanzhou's general public budget expenditures for the R&D of new technologies in 2018amounted to 1.469 billion yuan ($208 million), with an average annual growth rate of 15.7 percent. 

The continuous development of R&D institutions in Quanzhou has cultivated strong independent innovation capabilities, contributing to the construction of an innovation city. 

In 1987, Quanzhou had only 13 county-level research and development institutions. By the end of 2018, the number reached 411. 

The innovation platform in the city is also advancing. At present, the city has 85 provincial and municipal engineering technology research centers, 201 new-type scientific research institutions (including 12 provincial-level ones), and 87 business incubators. 

The increasing R & D and innovation activities of enterprises play a key role in the social and economic growth of Quanzhou. 

Back in 1987, Quanzhou's large and medium-sized industrial enterprises realized an output value of new products of 103 million yuan, and a sales income of 103 million yuan for new products. 

While in 2018, the output value and sales revenue of new products reached 82.13 billion yuan and 80.51 billion yuan, respectively.