In the Government Work Report this year, Premier Li Keqiang said China will further increase the proportion of indirect funding for basic research projects, pilot the creation of ceilings in funding that enable the retention of unused funds, set no limits on the proportions of spending items, and give research teams the power to decide how to use funds.

Premier Li said we must fully respect and trust our scientists and researchers, and empower teams and leaders of innovation by placing more human, financial and material resources at their disposal and giving them more power to make decisions on technology road maps.

According to Li, China will increase support for basic research and application-oriented basic research, as well as build enterprise-led mechanisms for bringing together companies, universities and research institutions to engage in innovation.

The government will build mechanisms to bring together enterprises, universities and research institutions to engage in cooperation, and IP protection is to be strengthened across the board.