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More focus on intellectual property needed: Officials

12-29-2011 16:35 BJT

BEIJING - More enterprises are enjoying the benefits of China's innovation-friendly environment as the volume of funds invested in research rise.

According to a report by the National Development and Reform Commission, companies contributed more than 70 percent of the funds in China for research and development in 2010. The country has the world's largest number of researchers, with 2.55 million people working to facilitate industrial upgrading. (Photo / China Daily)

However, the quality and global influence of the country's industrial innovations still need to be improved, officials and experts said.

"There are 20 percent more companies benefiting from the incentives they can earn by investing in innovation than in 2010. And China is seeing research investment grow by 20 percent year-on-year," said Zhang Xiaoqiang, vice-minister of the National Development and Reform Commission (NDRC), at a forum sponsored by Economic Daily in Beijing on Wednesday.

Zhang said investment in 2011 will be equivalent to 1.83 percent of China's GDP, which will equal approximately 795 billion yuan ($125.7 billion) if the world's second-largest economy grows by 9.2 percent this year.

Since 2006, many companies have boosted investment in research and development (R&D) after China vowed to build an "innovation-driven country" and issued more than 80 incentive measures for innovation.

According to an NDRC report, companies contributed more than 70 percent of the funds for R&D in 2010. And China has the world's largest number of research personnel, with 2.55 million people working to facilitate industrial upgrading.

China also became the world's top filer of patents in 2011, overtaking both the United States and Japan, according to Thomson Reuters.

 


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