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State Council to set up more innovation hubs

Updated: Jun 21,2017 5:00 PM

The State Council decided to set up a second group of demonstration zones for innovation and entrepreneurship, according to a circular released on June 21.

While breaking policy barriers, the move will further promote innovation, and build a new engine for economic growth.

According to the circular, the second group includes a total of 92 demonstration zones. Among them, 45 are regional zones, like Beijing’s Shunyi district and Shanghai’s Xuhui district, 26 are universities and sci-tech institutions, including Peking University and Fudan University, and 21 are enterprises.

To ensure implementation of the policy, the State Council urged more efforts to deepen administration streamlining, optimize commercial environment and support new business patterns.

Meanwhile, those new demonstration zones should also strengthen protection of intellectual property rights and speed up commercialization of research results.

The circular also encourages demonstration zones to formulate flexible policies to attract high-quality talents, and support entrepreneurship of returned migrant workers and overseas Chinese.

According to the arrangement, work plans and supporting policies of those demonstration zones should be formulated and published before the end of 2017, and evaluation will be done in the first half of 2018.