The State Council officially approved the establishment of a national innovation zone in Henan province on April 11.

It will be built in coordination with three high-tech zones located at Zhengzhou, Luoyang and Xinxiang cities in Henan province.

The zone aims to implement an all-round strategy of innovation-driven development and strive to become a pioneer in the course of open innovation in central China based on its unique feature of location and advantage as a transportation hub.

It will enjoy the same preferential policies for national innovation demonstration zones in China.

The new innovation zone will develop mechanism innovation and technological system reform in the areas of research projects and funds management, share incentive mechanism, the combination of high technology with finance, and the use and protection of intellectual property rights.

The inter-ministerial coordination panel of national innovation demonstration zone will direct the overall work, and Henan provincial government is responsible for the coordination in the mechanism and the formulation of detailed planning.