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Using Innovation to Power Growth
Source:Shanghai Daily    Writer:admin    Released on:2015-10-28    

Wan Gang, minister of science and technology, delivers a speech at the Pujiang Innovation Forum in Shanghai yesterday.
CHINA will strengthen grassroots innovation and deepen collaboration with creative countries to accelerate its innovation-driven growth strategy, Minister of Science and Technology Wan Gang said yesterday at the annual Pujiang Innovation Forum.
"China has made great technological achievements in areas including aviation, information technology, life science and the exploration of outer space and deep sea in the past few years," Wan said. "Now, we are encouraging mass entrepreneurship and grassroots innovation as they will become a major force to power China's economic growth in the future."
Last year, China invested 1.34 trillion yuan (US$211 billion) in research and development, while the number of effective patents rose 12 percent year on year to 660,000.
China has also carried out reforms, including relaxing market access, and scientists working in state-owned entities were encouraged to commercialize innovations. Last week, China launched a national campaign to promote the reform endeavor.
"We need to build up a good environment to nurture an innovation chain, and collaborate with other countries like Israel to construct a globalized innovation network," Wan said.
Israel is the Country of Honor at this year's Pujiang Innovation Forum. Silvan Shalom, Israeli vice prime minister and minister of interior, said at the forum in Shanghai that his country hoped to innovate together with China.
"Innovation is a tradition in Israel," said Shalom. "We have seen China's growing competitiveness in innovation, and we hope to collaborate more with China."
Shalom also announced at the forum that Israel will offer visas valid for 10 years for Chinese businessmen and tourists.
With a population of 8 million people, Israel is known as the world's top innovation hub as it hosts more than 3,000 startup companies. It has the second-largest concentration of high-tech companies, trailing Silicon Valley in the United States. Israel has the most scientists, engineers and technicians per capita in the world.