BEIJING, May 25 (Xinhua) — China will improve and implement current policies of promoting enterprises’ science and technology innovation, an official with department of research commercialization and regional innovation of Ministry of Science and Technology said at a press conference held at the State Council Information Office on Friday.
In recent years, technical innovation consciousness and ability of Chinese enterprises became stronger with remarkable effects, said Yang Xianwu, deputy head of the department. And the technical innovation system with the enterprises as the main body has been improved.
China’s spending on research and development (R&D) reached 1.76 trillion yuan (about 255 billion U.S. dollars) in 2017, with almost 80 percent invested by enterprises.
136,000 Chinese high-tech enterprises spent 900 million yuan on R&D in 2017.
China’s economic construction has stepped into a new stage, with stronger demand to conduct science and technology innovation, said Yang. The Ministry of Science and Technology will make more enterprises increase R&D investment in order to improve innovation ability.
The policies of promoting the transformation of scientific and technological achievements, together with intellectual property protection, will be implemented.
China will also extend the scale of high-tech enterprises and small and medium-sized technology enterprises, said Yang.