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China's innovation index rises in 2014

Xinhua, December 29, 2015 Adjust font size:

China Innovation Index (CII), a barometer of innovation capability, rose 3.7 percent year on year in 2014 to 158.2 points, the statistics authority said Tuesday.

The index comprises four sub-indices, which measure the country's innovation environment, input, output and effects, the National Bureau of Statistics (NBS) said in a statement.

The sub-index for environment rose 3.3 percent last year, while that for innovation effects rose 2.8 percent. The sub-indices for input and output rose by 3 percent and 5.2 percent.

NBS statistician Zhang Peng said the steady increase of the index shows China's new achievement in promoting innovation, amid the government's efforts to promote entrepreneurship and innovation.

Since early 2014, China has cut red tape and lowered entry requirements for enterprises, including lifting restrictions on minimum registered capital and cash ratios of registered capital. Endi