City vows to invest more in R&D, tech innovation
By Zhu Shenshen |
August 16, 2012, Thursday
|
Print Edition
Print Edition
SHANGHAI will invest more in research & development and technology innovation, including establishing a city-level industrial research organization, providing more support policies and developing strategic industries, so as to upgrade the local economic structure, top government officials said at a conference yesterday.
Shanghai is one of the leading cities on R&D and innovation nationwide, said Wang Zhigang, vice minister of the Ministry of Science.
"But it will face challenges if we don't speed up (new measures of innovation)," added Yu Zhengsheng, Shanghai's Party secretary.
Compared with other cities, Shanghai still lacks top technology companies with a high level of influence or revenue, such as firms with an annual income of more than 100 billion yuan (US$15.71 billion). Top names such as Sina.com and 360buy.com are based in Beijing while Shenzhen in Guangdong Province boasts Huawei, ZTE and Tencent.
In 2011, Shanghai's total R&D spending reached 59.77 billion yuan, up 24 percent year on year. It accounted for 3.1 percent of the city's total gross domestic product, said Mayor Han Zheng.
To speed up innovation, Shanghai plans to establish a city-level industrial research arm, which will become a new innovation platform for technology sharing and communications among local firms, and research organizations.
Meanwhile, the city has set up several funds and actively encouraged bank loans for high-tech startups and research projects of state-owned firms, which will help the city to transform itself from being oriented toward service to leaning on high-tech industries by 2015.
The city's strategic industries, from new-energy car, next-generation network, to Internet and mobile payment, generated a total output of 1.02 trillion yuan in 2011, up 12.2 percent.
Shanghai is one of the leading cities on R&D and innovation nationwide, said Wang Zhigang, vice minister of the Ministry of Science.
"But it will face challenges if we don't speed up (new measures of innovation)," added Yu Zhengsheng, Shanghai's Party secretary.
Compared with other cities, Shanghai still lacks top technology companies with a high level of influence or revenue, such as firms with an annual income of more than 100 billion yuan (US$15.71 billion). Top names such as Sina.com and 360buy.com are based in Beijing while Shenzhen in Guangdong Province boasts Huawei, ZTE and Tencent.
In 2011, Shanghai's total R&D spending reached 59.77 billion yuan, up 24 percent year on year. It accounted for 3.1 percent of the city's total gross domestic product, said Mayor Han Zheng.
To speed up innovation, Shanghai plans to establish a city-level industrial research arm, which will become a new innovation platform for technology sharing and communications among local firms, and research organizations.
Meanwhile, the city has set up several funds and actively encouraged bank loans for high-tech startups and research projects of state-owned firms, which will help the city to transform itself from being oriented toward service to leaning on high-tech industries by 2015.
The city's strategic industries, from new-energy car, next-generation network, to Internet and mobile payment, generated a total output of 1.02 trillion yuan in 2011, up 12.2 percent.
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