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Shandong: One billion yuan financial funds to support innovation

2012/07/23

This year, special funds to support indigenous innovations will be set up by Shandong government. The province pledges to allocate one billion yuan from financial budget to support over 300 projects concerning self-owned intellectual property rights on an annual basis from 2012 to 2015.

The provincial government endeavors to encourage financial organs and institutions, as well as social capital bodies to invest more than 100 billion yuan to further promote the establishment and improvement of enterprises-oriented innovative systems.

In addition, a total of 32 key areas in nine industries including new materials, biotechnology and pharmaceutics, high-end electronic information, advanced equipment manufacturing, robber tires, non-ferrous metals, environment protection, modern agriculture and marine will have the priority to secure the special funds, according to Shandong government.

(Source: IPR in China)




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