Central Committee and State Council: Enterprise R&D Projects Meeting National Strategic Needs to Be Elevated to National Projects

36Kr reports that the Central Committee of the Communist Party of China and the State Council have issued the 'Opinions on Developing New Quality Productive Forces.' The document emphasizes strengthening the leading role of enterprises in technological innovation, enhancing inclusive incentive policies, establishing an enterprise R&D reserve fund system, and reinforcing the dominant role of enterprises in technology investment. It encourages high-tech small and medium-sized enterprises to increase R&D investment and raises the ratio for additional deduction of enterprise R&D expenses. Projects meeting national strategic needs will be elevated to national projects through proper procedures, encouraging enterprises to lead national technology tasks and supporting capable private enterprises in undertaking major national technological breakthrough missions. A mechanism for user-based assessment of results will be established to strengthen the leading role of enterprises in technology transformation. The system for promoting original innovation by state-owned enterprises will be improved, and the development of specialized and new small and medium-sized enterprises will be supported.