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.
