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China to improve incentives for govt policy implementation

Updated: Dec 20,2021 14:45    english.www.gov.cn

China will enhance incentives and support for local efforts in implementing major policies with noticeable results during the 14th Five-Year Plan period (2021-2025), according to a circular released by the General Office of the State Council on Dec 20.

Taking the forms of funding, investment, and capacity building, among others, incentives will cover areas such as innovation, intellectual property rights, vocational education, foreign trade, and environmental governance, the circular said.

Central funds will tilt toward scientific and technological development in provincial-level regions with great progress in innovation-driven development and application of scientific and technological outcomes, and so will national funds for innovation and entrepreneurship projects in designated areas.

Well-performing provincial-level regions will get support in building IPR protection centers, launching pilot programs for financial reform and innovation, and improving vocational education, among others.

In allocating central fiscal funds, incentives will also be offered if they achieve remarkable results in protecting high-standard farmland, enhancing medical care services, and boosting employment.

Eligible areas will get a boost in upgrading and transforming traditional industries, promoting foreign trade innovation and development, reforming easier business registration, establishing national role model cities for cultural and tourism consumption, air and water pollution prevention and control, and developing medical and elderly care services.

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