Highlights from Two Sessions | China Economic Net “Zheng Yueming: Establishing Enterprise-led Innovation Alliance to Promote the Transformation of Scientific and Technological Achievements”

Beijing, 6th March (Economic Daily – China Economic Net, by Tong Mingbiao) - According to this year’s Report on the Work of the Government, great achievements have been made in China's innovation-driven development in the past five years. Deputy to the 13th NPC, President of Levima, Mr. Zheng Yueming indicated that remarkable scientific and technological achievements  have been made and China has become a significant global power in terms of scientific and technological innovation. The transformation of scientific and technological achievements has played an important role in promoting industrial progress, leading national economy development, and building a modern economic system. In this regard, he suggested to establish alliances for technology innovation and industrialization and to give more support for the establishment of technology achievements transformation platform.

China’s input into research and development has grown 11 percent on average annually over the past five years, making China the world's second-largest investor in innovation, and that science and technology's contribution rate to the country's economic growth has increased from 52.2 percent to 57.5 percent. A number of landmark achievements in science and technology, such as manned spaceflight, deep sea exploration, quantum communication and giant aircraft kept springing up. The rapid rise of new momentum is reshaping the economic growth pattern and profoundly changing people’s production modes and lifestyles. It has become a new symbol of China's innovation and development. At the same time, the number of domestic valid patents of invention has tripled, the volume of trade in technology market has doubled, and China’s technological innovation has shifted from being the main follower to a major leader.

Zheng Yueming stated that while summing up achievements, there is still much room for improvement in the scientific and technological achievements conversion rate in China and their contribution to our economy and society. According to Mr. Zheng, rather than from enterprises, most of China's scientific and technological achievements come from scientific research institutes, causing the disconnection between China's scientific and technological figures and its industry.

In Zheng’s opinion, there are many alliances that aim to promote the transformation of scientific and technological achievements. Most of them are led by R&D institutions. Mostly aimed at partnering projects, it is difficult to get effective cooperation within this kind of alliances. Therefore, he proposed to encourage the establishment of technological innovation and industrialization alliances co-led by enterprises, scientific research institutes and engineering design institutes. Meanwhile, he suggested to establish technology achievement transformation and industrialization platform companies, which are managed and operated by professional teams. We must build a profit-sharing mechanism by defining technology providers, financial investors as well as operators and establish supporting funds for them. That is to build market-oriented, enterprise-based, "alliance + platform + fund" trinity of scientific and technological achievements transformation and operation mode.

“This model can improve loyalty among coalition members and effectively promote the transformation of scientific and technological achievements. It shows that the government should increase support for funding, project approval, land, taxation and talent policies,” said Zheng Yueming.

At the same time, he also proposed to strengthen the integration of technological innovation resources with local industrial advantages, improve the efficiency of scientific and technological achievements transformation, and promote the transformation and upgrading of local industries. He suggested to avoid disorderly competition in innovation resources in various regions, which could result in improper allocation of resources and thus influencing the transformation of scientific and technological achievements.

(Reproduced from Economic Daily - China Economic Net, please click on the link for more information: "郑月明:应建立企业牵头的创新联盟 促科技成果转化".)