Huai'an Rolls out New Policy for S&T Reform
On December 26, Huai'an Municipal Government held a press conference to interpret the recent decisions, released by the city's CPC Committee, on deepening the reform of the science and technology system and promoting high-quality development.
The new policy clearly expands researcher's rights for adjustment and use of budgetary funds as well as technical decision-making, and effectively reduce the review and intervention by the S&T administration.
According to the new rule, research team will be rewarded no less than 80 percent of proceeds from their technology transfer, up from the current 60 percent.
Huai'an companies that introduce and apply advanced technology from the province or other regions will receive a fund up to 500,000 yuan (73,000 US dollars) per year.
The city's firms that get recognized as the national high-tech enterprise for the first time and the second time will be given a subsidy of 400,000 yuan and 200,000 yuan respectively.
A subsidy of 100,000 yuan and 50,000 yuan will be given to companies that are shortlisted in the provincial and city-level high-tech enterprises database respectively.
With the new policy, Huai'an now ranks among the top cities in Jiangsu for hefty subsidy.