China moves higher in innovation

China is steadily working its way toward a higher position on the world’s innovation index ranking, as a newly released report placed it 17th on the index measuring innovation capability out of 40 major ranked countries. The national innovation index report 2016-17 by the Chinese Academy of Science and Technology for Development shows the top five countries as the United States, Japan, Switzerland, South Korea, and Denmark. China moved one place higher in 2016, surpassing Belgium. It is the only developing country among the top 20 on the index. Data showed China’s research and development expenditure accounted for 15.6 percent of the world’s total, ranking second only o the United States. the Fuxing trains were tested for safety and reliability at maximum speed. From Sept 21, these trains will make seven round trips each day. applications from seven companies. The firms will raise up to 3.4 billion yuan ($509.7 million), the CSRC said. Four of them will be listed on the Shanghai Stock Exchange, two on the Shenzhen small and medium-sized enterprise board, and one on the ChiNext, China’s NASDAQstyle board. The firms and their underwriters will confirm IPO dates and publish prospectuses following discussions with the exchanges. Under the current IPO system, new shares are subject to approval from the CSRC. China is gradually switching from an approval-based IPO system to a more market-oriented system based on registration. day, as part of China’s ongoing efforts to slim down its State sector. The State Council had already approved the merger plan, which will make Sinolight and China National Arts and Crafts Group subsidiaries of China Poly Group, the State Asset Supervision and Administration Commission said in a notice. In late June, SASAC announced the merger of the China National Machinery Industry Corp (Sinomach) and the China High-Tech Group. domestic consumption is imported. The dominance of expensive overseas lubricants has increased costs to downstream companies and with health hazards in small food producers that are using cheaper non-food lubricant, said Zhu Jianhua, a professor of China University of Petroleum.