[Xinhua News, May 17]Five departments including the Science and Technology Department of China’s Hainan province recently jointly announced “Hainan Province’s Measures to Support Enterprises in Establishing R&D Institutions and Promote the Expansion of R&D Investment for the Whole Society,” aiming to enhance enterprises’ innovative vitality, increase R&D investment, and promote the high-quality development of the Hainan Free Trade Port.

The government also stated that it will actively attract foreign companies to establish research and development institutes, and indicated its intention to jointly promote the expansion of corporate R&D investment by incorporating social capital into expanding corporate R&D investment and strengthening statistical services regarding corporate R&D investment.

Regarding the attraction of R&D institutes to foreign-funded enterprises, the plan calls for foreign-funded R&D institutions to enjoy pre-tax additional deduction policies for R&D expenses that meet certain conditions, in accordance with China’s tax policies supporting science, technology and innovation. It also calls for foreign-funded R&D institutions to independently or proactively undertake tasks such as technology research and development, international science and technology cooperation, and application scenario demonstration in Hainan province, and for the opening up of key scientific research infrastructure, large scientific research equipment, common technology platform platforms, and public services for scientific and technological information to such institutions. In addition, it calls for the promotion of services to ensure academic and external liaison for foreign-funded R&D institutions in designated areas of the Hainan International Offshore Innovation and Startup Demonstration Zone.

Regarding support for companies to establish basic research innovation platforms, the government decided to provide subsidies of up to 5 million yuan (1 yuan = approximately 22 yen) to newly approved national key laboratories and up to 3 million yuan to key laboratories of central ministries and agencies from provincial-level finances.

Regarding support for the establishment of common technology service platforms, the provincial government will provide 30 percent of the investment, or up to 5 million yuan, from provincial finances for common technology service platforms that invest more than 3 million yuan in the establishment or expansion of scientific research software and hardware. The government aims for the common technology innovation platform to fully cover the province’s key industries by 2026.(c)Xinhua News/AFPBB News