Biz / Tech

Innovation in economic and tech zones to be promoted

Xinhua
China should accelerate the opening up and technological and institutional innovation in state-level economic and technological development zones.
Xinhua

China should accelerate the opening up and technological and institutional innovation in state-level economic and technological development zones, according to a statement released yesterday.

The country should give full play to the advantages of the development zones in fostering new sources of economic growth and promoting high-quality development, according to the statement made public after a State Council executive meeting.

“We will support the zones in improving business environment and encourage them to take the lead in streamlining administrative approvals, delegating power to lower levels and improving regulation and services,” the statement said.

To promote innovation, the country will support the building of national large-scale scientific experiment facilities and national bases for scientific and technological innovation, it said.

Scientific research institutes in the zones shall give cash rewards to the researchers for the income from their inventions. The country will also promote the opening-up and industrial upgrading in the development zones, the statement said.

At present, there are 219 state-level economic and technological development zones in China, contributing around 10 percent to the national gross domestic output and fiscal revenue.

Meanwhile, the State Council also decided to continue the preferential corporate income tax policies for integrated circuit and software companies yesterday.

China will also attract more investment from home and abroad to participate in and promote the development of the two sectors.

The State Council executive meeting was presided by Premier Li Keqiang.

China will continue to implement the tax cut and exemption policies for both sectors starting from the tax calculation and collection for 2018.

Authorities should focus on improving the supporting policies to further promote the development of IC and software industries to a higher level, the statement said.

Special Reports
Top