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Innovation-driven Development Blueprint for 2022

17 03.2022

As this year's Two Sessions came to an end, the government work report provided a blueprint for China's development in 2022. The country will continue to implement the innovation-driven development strategy and strengthen the foundation of the real economy. To that end, a number of tasks are outlined in the report.

Basic Research

China will implement a 10 -year plan to provide stable and long-term support for basic research.

Speaking to the press during the Two Sessions, Wang Zhigang, minister of Science and Technology emphasized the importance of basic research. He said, basic research and frontier exploration are to expand people's cognition and provide a source for technological innovation. They are the fundamental, pioneering and key starting points of research and development, so the government has given priority to basic research.

Talent Development

The country plans to speed up construction of major international talent centers and innovation hubs, improve systems and mechanisms for talent development, and increase support for young researchers, so that talented people across the board can focus on their research and give full play to their abilities.   

Regarding talent policies, Wang said it is necessary to further optimize and implement relevant policies to stimulate the enthusiasm and creativity of scientists, adding that young scientists are vital to the future development of science and technology and should be offered more opportunities.

Enterprise innovation

Enterprises play a leading role in the country's innovation, and that role will be further strengthened. China expects to make more efforts in promoting breakthroughs in key core technologies, and deepen the cooperation between enterprises, universities and research institutes.

According to Wang, 79 percent of key national R&D programs are led or participated in by enterprises. In such fields as high-speed rail, 5G, nuclear power and new energy vehicles, enterprises are playing a leading or main role in advancing their development.

"Whether it is a large, medium-sized or small enterprise, state or private-owned, the country will provide opportunities for them as long as the enterprises are capable of being innovative," Wang said.

Tax Incentives

China will further implement the R&D expense deduction policy. The additional deduction for small and medium-sized high-tech enterprises is to be increased from 75 percent to 100 percent. Tax preferential policies are to also be given to enterprises investing in basic research, and to high-tech enterprises in terms of their corporate income tax.

Other tasks for boosting innovation-driven development are also high on the agenda of the government work report, including advancing international sci-tech cooperation, supporting different regions to invest more in innovation according to their distinctive features, strengthening the protection and application of intellectual property rights, and producing more innovative sci-tech financial products and services.

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