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Science minister calls for better environment for innovation

(CRI Online)    10:14, March 12, 2015

Wan Gang, Minister of Science and Technology, answers questions at a press conference on the sidelines of the national legislature's annual session, Beijing, Wednesday, March 11, 2015. [Photo: gov.cn]

China's Minister of Science and Technology has issued a call for the government to do more to help business start-ups.

The comments have been made on the sidelines of the National People's Congress sessions in Beijing.

Science Minister Urges to Create Amicable Environment for Innovation

Minister Wan Gang says authorities need to lower the threshold for new business start-ups.

He says this should help drive innovation in the national economy.

"For example, the authorities can provide financial subsidies for office rental fees, internet fees as well as the public services and training they need. Government funding, such as startup and innovation fund for SMEs, can offer subsidies to select scientific research projects. The key is to create the atmosphere for start-up businesses and innovation."

The State Council already has guidelines on the books designed to try to encourage more participation in entrepreneurship and innovation.

The cabinet guidelines suggest providing a better environment by lowering barriers, strengthening public services and encouraging college students, scientists and engineers to start new businesses.

Plans are also in-place to create more online funding and encourage financial institutions to provide loans as financing channels to support small businesses.

Around a thousand investment firms have made more than 350-billion yuan available to help science and technology companies.

There are already 115 different science parks across China and over 16-hundred different areas of the country set aside specifically for technology-based companies to set-up their operations.

At the same time, Wan Gang says its also important for the government to help out those companies which are already operating in the science and technology fields.

"These companies have contributed over 76% of the overall spending on scientific research in China. So the government should be providing more assistance for them in solving problems such as how to make money through their scientific research. We need to have more service-oriented governments which follow market rules to stimulate innovation."

Spending on scientific research in China last year hit some 1.3-trillion yuan.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Kong Defang,Huang Jin)

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