Specific Measures to Facilitate Innovation in China

On September 14, the General Office of China’s State Council released 13 reform measures to promote innovation throughout China. The measures will be rolled out in eight innovation pilots including the Pearl River Delta region, Beijing-Tianjin-Hebei, and in Shanghai before being extended nationwide.
 
Specific government ministries are tasked with overseeing each reform measure. Reform measures include steps related to patents, financing, and talent. 

• The circular lays out a one-stop patent examination, rights protection, and verification service to be overseen by the State Intellectual Property Office (SIPO) and patent pledge financial services such as loans, insurance, and financial risk compensation.
• The circular also includes financing services for “core leading enterprise in the industrial chain”; one-stop investment and financing information for small and medium-sized enterprises (SMEs); and the creation of a “tax collection hall”.
• State-owned enterprises (SOEs) are encouraged to be more innovative through the introduction of long-term innovation incentives, and public institutions should assist in provincial coordination.
• The Chinese government also aims to streamline procedures for foreigners to obtain work permits and for foreign students to start their own businesses.
• Finally, the circular includes several measures related to enhanced military-civilian cooperation in innovation.