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Xinhua Silk Road
Economy

Enterprises to play major role in China's tech-innovation

May 24, 2019


Abstract : Chinese enterprises will play a major role amid the country's innovative efforts to solve shortages of core technologies, an official said Friday.

BEIJING, May 24 (Xinhua) -- Chinese enterprises will play a major role amid the country's innovative efforts to solve shortages of core technologies, an official said Friday.

China, focusing on key links of the industrial chain with breakthroughs in tech-innovation, will guide and encourage enterprises to strengthen R&D and application promotion, Wang Zhijun, Vice Minister of Industry and Information Technology, said at a routine press conference of the State Council.

With market mechanisms combined with the role of the government, the market will play a decisive role in guiding technological R&D, selecting technological route and allocating various innovative elements, Wang said.

At the same time, the country is set to create a fair market environment for competition in the innovative sector, according to Wang.

China will further establish and improve the support system for basic research to enhance original innovative abilities, by increasing central financial support and guiding more investments into basic fields, Wang said.

Meanwhile, an industrial innovation ecosystem will also be established to improve the intellectual property protection and safeguard industrial collaborative innovation, Wang added.

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Keyword: China enterprises tech-innovation

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