New measures to bolster innovation-driven growth

Yinchuan, capital of Northwest China's Ningxia Hui autonomous region, has launched a campaign to enhance the research and development capabilities of local industrial companies and raise the proportion of their research & development spending in business revenues.

According to the Yinchuan Bureau of Science and Technology, the city expects over 45 percent of its local industrial firms to boast necessary competence in the R&D activities and that the ratio of the R&D spending to surpass 1.2 percent of their business revenues by 2025.

The bureau has conducted analytical research over the city's overall expenditures on R&D and held targeted inspections of over 300 industrial firms.

During the face-to-face talks with local entrepreneurs, staff workers with the bureau have heard their reports on the key issues that currently constrain the utilization of innovative resources and voiced proposals to their common problems and difficulties in innovation-driven development.

The bureau has championed the building of a joint mechanism, which also involves county-level bureaus of science and technology, public institutes and third-party services providers, to better support local firms, ensure implementation of all preferential policies, and foster a sound R&D environment.

Meanwhile, the bureau has sponsored several rounds of training sessions both online and offline to help managerial personnel better understand policies, expand their creative mindset and raise the sci-tech innovative spirit of entrepreneurs.

Apart from extending precise assistance to small and medium-sized sci-tech enterprises that specialize in niche sectors, the bureau has formulated a set of policies to support leading firms to found an alliance of innovation, encourage enterprises to create their own platforms for technological innovation, and build a positive innovation atmosphere.