An annual report on the commercialization of China's scientific and technological achievements was published on Wednesday, showing that it continues to flourish across the country.

The report, published in an edition of colleges and research institutes, noted that 466,882 sci-tech commercialization contracts were signed at 3,554 colleges and universities nationwide in 2020, with a total value of 125.61 billion yuan (about 18.7 billion U.S. dollars).

More than 40 percent of the sci-tech achievements were commercialized in the manufacturing industry, and about 60 percent in micro, small and medium-sized enterprises.

Guided by the Ministry of Science and Technology, the report has been published for four consecutive years.