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China issues plan to boost innovation reform

Updated: Sep 8,2015 9:19 PM

The General Office of the Communist Party of China and the State Council General Office has issued an overall plan to systematically promote innovation reform on Sept 7.

The plan, released on Sept 7, aims to encourage areas to play their role in reform and innovation.

Four basic principles were listed:

-- Solving prominent conflicts and problems that hamper innovation-driven development.

-- Selecting pilot areas, coordinating central government’s reform plan and regional demand and making an overall plan to accelerate the promotion of important policies.

-- Focusing on scientific and technological innovation, reform in fields such as economy, science and technology as well as education.

-- Providing incentives for scientific and technological personnel and innovative talent management to fully stimulate creativity.

It is hoped that three years’ of effort will put in place an effective long-term mechanism in pilot areas.

Reform breakthroughs will be made in market equity, intellectual property rights, financial innovation, talent cultivation and stimulation and successful reform measures and policies will be extended nationwide annually.