China is stepping up efforts to solidify the role of enterprises as a core driver of innovation, and enhance financial support for small and medium-sized scientific-technological enterprises, Minister of Science and Technology Yin Hejun said in an interview aired on Sunday.
In the interview with China Central Television (CCTV), Yin outlined the ministry's roadmap for the opening year of the country's 15th Five-Year Plan for national socioeconomic development in the 2026-2030 period.
"We will strengthen the principal status of enterprises in technological innovation decision-making. We'll support state-owned and private enterprises in deeply engaging in national sci-tech innovation decision-making, with more attention given to enterprise opinions in the formulation of major strategies, major plans, and major policies. We will also strengthen the principal status of enterprises in organizing scientific-technological research. More efforts will be made to support enterprises in taking on or participating in more national major scientific research tasks, establish mechanisms for enterprise projects to be elevated to national projects, support leading sci-tech enterprises in building innovation consortia with various key players in innovation, such as universities, research institutes, and SMEs, and build sci-tech innovation platforms and bases to promote integrated innovation across the upstream and downstream industrial chain," Yin said.
In May 2025, the Ministry of Science and Technology, together with six other competent central government agencies, rolled out 15 concrete measures to promote financial services for sci-tech innovation, to improve the country's self-reliance and strength in science and technology.
In December last year, the national venture capital guidance fund was launched as part of efforts to mobilize more patient capital for innovative and future industries.
Looking ahead, the ministry plans to further refine a sci-tech finance system tailored to innovation needs, scale up financing support for small and medium-sized sci-tech firms, and streamline channels for converting scientific and technological research achievements into applicable know-hows, according to Yin.
"We will keep improving the implementation mechanisms for preferential tax policies on scientific and technological innovation, raise the additional tax deductions for enterprises' research and development expenses, and lead enterprises to increase their research and development investment. We will also strengthen enterprises' principal status in practical application of scientific-technological research achievements, enhance their capacity to absorb and apply scientific-technological research achievements, accelerate efficient application of major sci-tech research achievements, and promote incubation and cultivation of sci-tech SMEs. The Ministry of Science and Technology will work together with other competent authorities to keep strengthening coordination and implementation of policies, and providing sustained and strong policy support for enterprises' scientific-technological innovation," said the minister.
China to enhance enterprises' role as core driver of innovation: minister
