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July 31, 2010

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Home » Metro » Health and Science

City will spend more on science and innovation

SHANGHAI will spend 3 percent of its annual gross domestic product on scientific development and innovation in 2012 and raise the percentage above 3.5 percent in 2020, city officials said yesterday.

Officials gathered to announce the launch of the national science and technology innovation project.

The central government approved Shanghai as the eighth region to begin pilot operation of the national project following the provinces of Zhejiang, Anhui, Shandong, Jiangsu, Guangdong, Sichuan and Liaoning.

City officials said Shanghai will set up a system encouraging enterprises to innovate through governmental support and make the city a leading scientific center in the Asia Pacific region by 2020.

Shanghai has been focusing on scientific innovation for several years and annual investment for research and development keeps rising, officials from the Shanghai Science and Technology Commission said.

Shanghai invested 40.1 billion yuan (US$5.91 billion) in scientific research and experiments last year, or 2.7 percent of GDP. Its high-tech industry output reached 556 billion yuan last year, covering 23.3 percent of total industry output.

Shanghai is now home to 66 universities, 113 scientific institutes, 37 national-level laboratories, 38 national-level enterprise technology centers and 2,500 high-tech enterprises.

"The industrialization of high technology is the key for a quick-growing economy," Shanghai Party Secretary Yu Zhengsheng said.

By 2012, Shanghai plans to have 500 national and city-level enterprises focusing on major industries like new energy and new medicine.

The government will also promote talent cultivation and introduce better financial services by 2012.


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