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Relaxed rules on research findings to promote scientific innovation

Updated: Feb 18,2016 5:06 PM     english.gov.cn/Economic Information Daily

The State Council executive meeting on Feb 17 decided to relax the regulations for transferring scientific and technological research achievements from national research institutions to enterprises.

The decision, which is aimed at accelerating the process of turning scientific findings into productivity and advancing China’s scientific innovation, has huge significance for promoting China’s supply-side structural reform, said experts and officials.

They said scientific innovation is the key to supply-side structural reform, and the new engine for economic growth under the new normal.

Jia Kang, former head of the Research Institute of Fiscal Science of the Ministry of Finance, said innovation in the system, management and science and technology contribute to China’s new development drives, and scientific innovation is the most important one.

China’s 13th Five-Year Plan (2016-2020) regards scientific innovation as a key chain in supply-side reform, and the country should accelerate innovation on new technology, new products and new business models and realize the dynamic transformation of economic development, said Wan Gang, minister of science and technology.

Chen Jin, a professor in the School of Economics and Management at Tsinghua University, said that the transfer is an important part of supply-side reform, and it also has huge significance for the transformation of economic development mode.

Chen suggested that all parties in society should work together to achieve the scientific transfer, and the government should set up funds to encourage the move. Chen also called for financial capital, private funds, local governments and other investors to turn scientific findings into productivity.

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