Solid Progress Made in Enhancing Enterprises' Strength in Innovation2019-06-06

China has made notable progress in enhancing enterprises' innovation capabilities in recent years, a senior official said.

Enterprises' research and development investment accounts for above 70 percent of the country's total R&D investment, with more than 40 percent of major industrial enterprises conducting technological innovation activities, said Wang Zhijun, vice-minister of industry and information technology, at a news conference in late May.

China had remained the world leader in invention patent applications for seven consecutive years as of the end of 2017, with the number of applications reaching 1.83 million, according to Wang.

Various measures have been put in place to improve enterprise innovation, including establishing a series of innovation centers and laboratories, increasing support for enterprises in key fields and optimizing innovation-oriented policies.

To further encourage enterprises to innovate, China will place greater emphasis on development, and urge enterprises to increase R&D investment with more tax cuts, funds and loans for innovation projects.

More efforts will be made on research for core technologies to accelerate the intelligent, green and service-oriented upgrading of the manufacturing industry, and advance the integrated development of the manufacturing industry and industrial internet, Wang said.

While enhancing resource sharing on research platforms, the country will promote the application and commercialization of scientific achievements, encourage domestic enterprises to carry out international innovation cooperation and intensify the protection of intellectual property.

Wang also called for greater efforts to help small and medium-sized businesses with technological innovation.

Source: Xinhua

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