Steps to enhance innovation
The State Council decided at an executive meeting on Wednesday to expand the implementation of a number of steps to better drive innovation and spur creativity.
According to a statement released after the meeting chaired by Premier Li Keqiang, the country will extend the implementation of a number of reform measures nationwide to mobilize innovation resources, incentivize innovation activities and nurture new drivers of growth.
Such measures have been piloted in eight Chinese cities and regions, including the Beijing-Tianjin-Hebei region, Shanghai and Guangdong province.
The measures include ones that are designated to incentivize the commercialization of R&D findings. Universities and research institutes will be encouraged to participate, through commercial deals, in business research on technological breakthroughs. Professional managers will be encouraged to take part in the whole commercialization process.
More innovation in financial technical services will be encouraged so that there can be more financing channels for small and medium-sized tech companies, including asset-light firms and firms yet to make a profit. Local government equity funds will be channeled to support seed and early stage high-tech startups. Insurance companies will be encouraged to develop products that cover patent enforcement and patent infringement to forestall patent holders’ losses from intellectual property rights violations.
Market-based operations of State-owned scientific research bodies and equipment will be promoted. Mechanisms will be established to allow for innovation-related decision-making on a trial-and-error basis, the statement said.
It was also decided at the meeting that three reform measures will be piloted in eight cities and regions. Among the measures, researchers will be allowed to claim a certain percentage of their research findings. Colleges that are not under the direct jurisdiction of the Ministry of Education will be allowed to bring in talents and conduct evaluations on professional titles on their own.
The meeting also passed a draft regulation on emergency responses to work accidents. The regulation prioritizes emergency responses in key areas and for major accidents, and made clear requirements for training and the development of first-response teams.