🇨🇳China Party-State to Elevate Eligible Corporate R&D to National Projects
The Central Committee of the Communist Party of China and the State Council issued Opinions on developing new quality productive forces, directing policy to strengthen the enterprise role in tech innovation. Measures include establishing an enterprise R&D reserve fund, increasing the R&D super-deduction rate, and boosting incentives for tech SMEs to raise R&D spending. Corporate R&D projects that meet national strategic needs may be elevated to national projects through prescribed procedures; enterprises are encouraged to lead national science-and-technology tasks and capable private firms may be supported to head major national technology R&D efforts. The document also calls for a user-assessment mechanism to speed commercialisation, improved SOE arrangements for original innovation, and support for specialised, refined, distinctive and innovative SMEs. (https://t.co/THkhvmE9hS)