A municipal legislation aimed at promoting Shanghai's science and technology innovation will take effect on May 1.
Consisting of 59 articles, the legislation gives more flexibility to research entities and talents, encourages social capital investment in basic research, loosens administrative approvals and improves intellectual property protection.
"The legislation has made it clear that the municipal and district-level governments shall increase their fiscal investment to support science and technology innovation annually," said Zhang Quan, director of the Shanghai science and technology commission, during a news conference on the legislation on Tuesday.
Shanghai's fiscal expenditure in science and technology grew from 34.17 billion yuan ($4.8 billion) in 2016 to 42.64 billion in 2018, said Zhang.
The 2019 municipal budget for science and technology was 39.82 billion yuan, according to the standing committee of the municipal people's congress.
The legislation has devoted a chapter to the protection of intellection property, which orders government departments and agencies to improve related evaluation systems, hasten law enforcement and mete out harsher punishments.
Source: China Daily
