Strategy of innovation-driven development
To implement the strategy of innovation-driven development, China will promote overall innovation, particularly scientific and technological innovation, remain demand-driven and industrialization-oriented, ensure that enterprises play the principal role in innovation, let the market play the decisive role in allocating resources, and take full advantage of the socialist system. It will enhance the contribution made by scientific and technological advancements to economic growth, create new engines of growth, and sustain sound economic development.
The main measures to be taken: to create an environment that encourages innovation and fair competition, build a market-oriented mechanism for technological innovation, enhance financial innovation, improve the incentive policies for technology conversion, form a more efficient system of scientific research, and improve the mechanisms for training and attracting competent personnel, so as to bring about further integration of opening up and innovation. By 2020 China aims to create an institution, a legal system and a set of policies to guarantee that it becomes one of the innovative countries in the world.