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Minister stresses commercialization of research findings

Wan Gang, minister of science and technology answers questions at a press conference on the sidelines of the two sessions in Beijing, March 10, 2018. [Photo by Zhu Xingxin/chinadaily.com.cn]

Commercialization of scientific and technological research findings should be a crucial part in strengthening the country's innovation-driven development, said Wan Gang, minister of science and technology, on Saturday during the ongoing two sessions.

"Currently, the country's public innovative power is booming. ... The government's role in management of technology innovation should also develop to meet the demand of this new trend," he said.

Wan said China's current technology market size is about 1.3 trillion yuan ($205 billion).

"In the past, big enterprises used to take the major share in the innovation market," he said. gifts for old people who have everything"But now, an increasing number of research institutes from colleges have been seen in the market, with an annual increase of 20 percent in terms of numbers."

Being granted legal rights to manage their own i[MG_SEO]nnovations, some institutes even commercialized their technology into project that was worth of more than tens of millions of yuan, he said.

But problems and new demands also emerged in the process.

For example, Wan said some researchers lack professional knowledge and experiences to deal with problems in technology commercialization process.

Also, he said a lack of supporting policies in the industry is another obstacle.

Wan said the ministry will release more related policies to help tackle those problems, including providing preferential tax policies and standardizing the management of researchers who belong to an institute and also work for other organizations or enterprises.

The personnel assessment system will also be improved, Wan said.

"To evaluate different talent based on a better classification system will further encourage their innovative powers and realized their aspirations to serve the country," he said.

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