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China to Turn Over 100 Large Scientific Research Organs into Ventures
China will convert over 100 large state-run scientific research institutes attached to State Council ministries into ventures by the end of this year, as a major step in the reform of the research bodies.
A total of 242 of the state-run research organs were turned into or merged with other ventures last year.
Xu Guanhua, Vice Minister of Science and Technology, said in Beijing Monday at a national conference on reform of the institutes that technological development research organs attached to the Ministry of Construction, Ministry of Communications and some other ministries are required to be turned into ventures.
He stressed that the research organs of scientific and technological development must focus on market-oriented projects if they want to be more successful.
The vice minister said that after last year's group of research institutes were reformed, a number of them have received more research funding either from local governments or by listing on the stock market.
He said over a dozen research institutes-turned-ventures are preparing to list on the market.
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