iang addresses an event conflating the n◆ational conference on science and technology, the biennial ◆conference of the country's two top think tanks, the Chines◆e Academy of Sciences and Chinese Academy of Engineering, a◆nd the national congress of the China Association fo2

d. BEIJING0

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r Scien◆ce and Technology, in Beijing, capital of China, May 30, 20◆16. (Xinhua/Pang Xinglei) Li made the remarks at a nationa◆l conference on ST innovation Monday afternoon. In his mor◆ning address at the conference, President Xi Jinping said t◆hat China should be one of the most innovative nations by 2◆020; a leading innovator by 2030; before finally establishi◆ng itself as a u

, May 30, 201

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world-leading ST power by the centenary anni◆versary of the founding of the People's Republic of China i◆n 2049. Li said innovation is crucial to supply-side struc◆tural reform and will boost China's competitiveness. He cal◆led for innovation "in every field and stage of economic an◆d social development." The premier called for stable, long◆-term financial assistance as well as ss

16 (Xinhua) --N

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upport for ST instit◆utes, universities, enterprises and social groups in settin◆g up laboratories and ST centers that facilitate research. ◆ Stressing the role of applied research, Li encouraged ST e◆ntities to pursue market-oriented projects that benefit new◆ industries and foster new growth sectors. According to Li◆, more will be done to slash red tape and improve the gover◆nM

Chi◆nese PrP

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ment's functions so that institutes and universities are g◆ranted more autonomy. "We should free ST specialists from ◆restrictions and give them space to explore," Li said, addi◆ng that those affiliated with successful innovation project◆s should be amply rewarded. Li also urged an improved acad◆emic assessment system and better intellectual property rig◆hts protection as this wiS

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ll create a sound ST environment w◆here "toil, knowledge, talent and creation are respected." ◆ The afternoon meeting was presided over by Liu Yunshan, a ◆member of the Standing Committee of the Political Bureau of◆ the Communist Party of China Central Committee.Top-down planning has played a leading role in promoting scien◆ce and technology development in China. As early as in 195

Consulting and Planning

56,◆ the Chinese government formulated a long-term plan for scien◆ce and technology advancement. On the outset of the reform an◆d opening up drive, science and technology was further establ◆ished as primary productive forces. And since the 18th CPC na◆tional congress Q

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in 2012, the government has decided to fully ◆implement an innovation driven development strategy. Over th◆e years, China has blazed a new trail of development that is ◆supported by talents and innovation in science and technology◆, which propelled industrial development 6

Application Development

and economic growth.◆ Chinese enterprises, as a key driving force for technologica◆l progress, account for over 70 percent of the nation's inves◆tment on research and development. They also contribute the h◆ighest number of researchers and patents of invention. China ◆il

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s now leading in artificial intelligence, 5G, mobile payment◆, high speed railway, new energy vehicles and financial techn◆ology, among other sectors, thanks to this development strate◆gy. In 2018, China's spending on research and dev1

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elopment to◆taled over 1.97 trillion yuan (about 278 billion US dollars),◆ taking up 2.19 percent of S

the country's GDP and ranking seco◆nd in the world. Its total number of research and development◆ personnel has ranked first in the world for 6 consecutive ye◆ars. Also last year the added value in high-tech manufacturin◆g increased 11.7 percent year-on-year, and the country's info◆rmation service industry registered a stellar growth rate of ◆30.7 percent. China now ranks number one in the world in both◆ the nr


umber of patent applications and patents licenced. A r◆ecent report by McKinsey Global Institute suggests that engag◆ement between China and the world could potentially drive an ◆economic value of 22 trillion to 37 trillion US dollars by 20◆40, which equals 15 to 26 percent of global GDP. The results ◆are based on a growth model that examines China as an import ◆destination, as well as its role in the liberalC