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Moves aimed at inspiring innovation

Updated: May 17,2016 7:40 AM     China Daily

On May 16, the State Council announced a program to transfer and transform scientific and technological achievements and stimulate the enthusiasm of innovators.

By the end of the 13th Five-Year Plan (2016-20), the country will have established 100 model institutes to promote technological transfers and will have supported the building of 10 demonstration zones with the goal of seeing the creation of technology contracts worth 2 trillion yuan ($307.6 billion).

And the country has decided to build 28 demonstration zones for business startups, four in universities and research institutes and seven within enterprises, including the Haier Group, which is based in Qingdao, Shandong province. The other 17 demonstration zones will be built in high-tech development zones throughout the nation.