Innovation's industrial application to be enhanced

China has to improve the application of its scientific and technological innovations, China’s top economic planner said.

Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, made the remarks one day ahead of the China Hi-tech Fair, which will be in Shenzhen from Nov 16 to 21.

Zhang said in the report of the 18th Communist Party Congress, China vowed to build a technology innovation regime that is “market oriented”, and in which “enterprises play the main role” and “integrate industry, academia and research”.

“A major problem is the incentive system. Researchers publicized their study essays and applied the patents. But that is the end of the game. The essays and patents have not been converted to real productivity,” he said.

Zhang said Zhongguancun’s model is a good example. Allowing researchers to acquire the equity of a company though their intellectual property, or to get bank loans using their intellectual property as collateral, creates a good incentive to stimulate researchers’ innovation.

Innovation is the key to upgrading China's growth model, experts said. And the report of the 18th Communist Party Congress has pledged to build a “innovation-driven” country.

The theme of this year’s China Hi-tech Fair is to “promote science innovation and enhance the development quality”. Cloud computing, the Internet, and 4G network technology will be featured at the fair.