chinese enterprises urged to innovate
Last Updated : GMT 12:34:34
Arab Today, arab today
Arab Today, arab today

Chinese enterprises urged to innovate

Arab Today, arab today

Arab Today, arab today Chinese enterprises urged to innovate

Beijing - XINHUA

The central government is urging enterprises to make more efforts to improve and innovate, according to a guideline published on the government\'s website on Monday. The guideline also sets a goal of establishing a market-oriented \"technology innovation system\" inside enterprises by 2015 that combines research, development and production. The guideline calls on enterprises to invest more in research and development, with money spent on research by large- and medium-sized industrial enterprises to be increased to 1.5 percent of their main business revenues. Leading enterprises should reach the level as their international peers and double the amount of patent applications they file, the guideline says. China\'s innovation is poor and lacks core technology with independent intellectual property rights, the guideline says, adding that the current mechanism has restricted innovation. The government will help enterprises set up research and development branches, nurture small- and mid-sized firms, cultivate more talent and improve financial policies that can support innovation. Relevant institutions should tap into their respective advantages and cooperate with enterprises in order to innovate, the guideline says.

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