There will be great change of Guangzhou’s investment in scientific researches. Currently, research funds of Guangzhou flowing to enterprises account for about 70%. It will reach and be kept at 80% the next step, while the rest will be invested in fundamental researches. Ma Zhengyong, director of Guangzhou Scientific and Technical Innovation Committee, said that Guangzhou allocated RMB800 million to grant subsidies for enterprises to make research and development after the reform of the scientific and technical innovation system. The government provides subsidy equal to 5% of the R&D investment for enterprises with such investment reaching less than RMB100 million, 2.5% for that reaching more than RMB100 million, 2% for that reaching more than RMB500 million and 1% for that reaching more than RMB1 billion.

 

In addition, Guangzhou has also put forward the plan for the multiplication of the incubators. As planned, by 2017, the incubators will cover an area of 8 to 10 million square meters. At the same time, construction of related support infrastructures will be enhanced. By 2017, the investment in R&D will account for 2.7% of the total investment of the city; R&D organizations of industrial enterprises above designated size will account for more than 50% of the total; proportion of output value of high-tech products will exceed 47%.

 

Source: Excerpts from Nanfang Daily, May 13, 2015