China to bolster innovation
(Xinhua)
Updated: 2006-07-27 09:44
The Chinese government on Wednesday announced a package of policy incentives
and increased public funding to bolster research and development in 103
innovation-driven companies.
China Aerospace Science and Technology
Corporation and 14 other key state-owned enterprises, 77 private companies, and
11 research institute businesses are on the Ministry of Science and Technology
(MOST) list for state support.
Vice Minister of Science and Technology
Li Xueyong told Xinhua, "By nurturing innovative companies, the government
aims to help sharpen their competitive edges.
"These companies are expected
to set an example for other Chinese enterprises that wish to profit in the
knowledge-based economy."
The list would be extended to about 500 firms
in the next three to five years, he said, adding, "The 103 innovation-driven
companies are not permanently on the list and those lacking momentum in further
developing new technologies will be removed."
The ministry would help in
the establishment of research and development centers at the companies as well
as offer financial advice, technical training, and support in protecting
intellectual property rights.
Shao Ning, Vice Minister of the
State-owned Assets Supervision and Administration Commission, said more support
would be offered to corporations in taking on nationally important projects and
participating in policy-making.
Ninety-nine percent of Chinese companies
had never applied for a patent, indicating that most of them lack core
technologies. Research and development investment of large and
medium-sized corporations accounted for an average 0.71 percent of annual
turnover, far lower than the average five percent in developed countries.
Three quarters of large and medium-sized corporations had no research
and development organs; two-thirds had no independent research activity; and
more than 60 percent no brands of their own.
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