Zhejiang Encourages Technical Innovation

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Monday, August 27, 2001, updated at 10:13(GMT+8)

Business

Zhejiang Encourages Technical Innovation

Patent technology may be converted into over 50 percent stake in businesses, according to a policy newly issued by the government of Zhejiang Province in east China.

The new policy aims at encouraging technological innovation and invention so as to improve the technical and economic competitive edges of the province, said provincial officials.

The province has also set up a 4-million-yuan fund to help inventors in patent applications. The fund is to be raised to 8 million yuan by 2005.



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	Patent technology may be converted into over 50 percent stake in businesses, according to a policy newly issued by the government of Zhejiang Province in east China.




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