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Regional innovation reform can invigorate economy

Xinhua, September 15, 2015 Adjust font size:

China's comprehensive innovation reform program will boost innovation and drive the economic growth, a senior official from the National Development and Reform Commission (NDRC) said on Tuesday.

An inter-ministry coordination mechanism will advance the innovation reform program to let innovation play bigger role in driving economic growth, said NDRC senior official Meng Xiantang at a press conference.

Last week, China's central authorities released an overall reform plan on boosting innovation in areas including the Beijing-Tianjin-Hebei region, Guangdong and Sichuan Provinces, and the cities of Shanghai and Shenyang.

The reform plan explores the integration of technology and economic growth, supports entrepreneurship and establishes a market-oriented innovation mechanism.

Innovation reform will benefit Beijing-Tianjin-Hebei regional development, promote innovation and industrial transformation in Yangtze River Delta and deepen innovative cooperation between Guangdong, Hong Kong and Macao.

Specific reform measures in each area will be released by the end of this year and implementation will begin next year. An interim review of the measures will start in 2017. Endi