Innovation policy rules drafted

Shanghai’s first regulation on the construction of the city as an innovation center has been drafted and will be subject to the legislation process from the end of this month.

The regulation, drafted by the city’s science commission, will serve as a “basic law” in terms of the innovation policies in Shanghai, Zhang Quan, head of the commission, told legislators on Wednesday.

The draft is expected to be voted on next year, and in the meantime it can change as a result of reviews among legislators and public discussions.

Sun Lei, a member of the standing committee of the Shanghai People’s Congress, said the regulation should place more emphasis on support to small and micro startups, especially financial support.

“Small startups are a major innovation force, and the city’s support to those innovators lags behind some other cities in China,” he said.