CHENGDU, Dec. 8 (NBD) -- Northwestern Chinese city Yinchuan has arranged 1 billion yuan (about 145.83 million US dollars) as an incentive for enterprises which improved and facilitated their science researches and innovations, according to the municipal finance bureau.

The Invest Fund for Science Innovation and Development, initiated by the Ningxia Hui Autonomous Region's capital city this year, will be in place for five consecutive years as 200 million yuan (about 29.17 million US dollars) available each year.

Tian Youqiang, general manager of Yinchuan Municipal Industry Funds Management Ltd Co., introduced that the fund would mainly invest into those high-tech enterprises in the fields of industry, agriculture and social development as well.

The maxmium investment for each enterprise is limited within 20 million yuan (about 2.92 million US dollars), some relatively extraordinary ones may apply to exceptions only under the approval of the investment decision-making committee.