HAIKOU /China/, December 26. /TASS/. Jinpan Technology has become the first Hainan manufacturer to be included in China's national list of advanced technology enterprises. This was reported by the Hainan Daily newspaper.
According to the newspaper, the Ministry of Industry and Information of China included Jinpan Technology in the honorary list of Chinese industrial leaders in their segment in the global market. As an incentive measure the Hainan authorities will give it a bonus of 5 million yuan (about $716,000).
Jinpan Technology produces dry-type transformers that are widely used in office buildings, airports, military facilities, logistics terminals and housing and public utilities. The advantage of these power converters is that they do not require oil replacement and leakage control.
The company, as noted, has received certifications that confirm the high quality of its products in Canada, the Netherlands and the United States. It accounts for more than 25% of the relevant segment of the global market related to the production of wind turbines.
The Hainan administration pursues an active policy of creating modern industrial sectors, encouraging the introduction of advanced technologies. The authorities pay special attention to the development of small and medium-sized enterprises. In 2022, the province had about 260 companies in this category, which are on the official list of regional innovation leaders.