State Council Creates 3 New Indigenous Innovation Pilot Zones
Last week, during the regular State Council legislative meeting presided over by Premier Li Keqiang, the State Council announced that they would be establishing three new national-level indigenous innovation pilot zones in Henan, Liaoning and Shandong provinces, respectively.
In addition to the three new pilot zones, which elevate the national total to 14, the State Council also introduced four guidelines aimed at reforming existing indigenous innovation pilot zones:
- Develop better innovation mechanisms, with emphasis on improving equity incentives and the commercialization of scientific developments
- Extend greater resources and support to academic and research institutions, and provide such entities with greater research autonomy
- Provide support to start-ups, with recognition that new companies will bolster employment and economic growth
- Simplify regulatory processes and reduce administrative "red-tape"
