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China adopts new innovation reform plan

Updated: Sep 24,2015 8:35 PM     Xinhua

BEIJING — China issued a national plan for national science development on Sept 24, giving academics and inventors more incentives.

The plan by the General Office of the Central Committee of the Communist Party of China (CPC) and the General Office of the State Council, introduces mechanisms to motivate researchers and foster innovation with 32 specific measures.

Technological innovation should be more market-oriented, with a mechanism to commercialize research findings.

Current evaluation mechanisms should be overhauled to allow financial capital to be proactive in inspiring new findings and applied technology.