New regulation to push city’s growth as innovation hub
Print Edition
A REGULATION pushing forward the transformation of Shanghai into an innovation hub was passed by the city’s legislature yesterday.
Deputies of the Shanghai People’s Congress approved the bill on the closing day of the annual session of the congress.
The regulation lays out goals for the city to become “a comprehensive and open science and technology innovation hub with global influence,” “an important origin ground for innovation, a strategic heartland of domestic innovation and a key junction of the global innovation network.”
For this purpose, Shanghai will enhance international communication and cooperation on innovation, forge a favorable environment for cross-border innovation and proactively incorporate itself into the global innovation network.
The regulation also encourages the establishment of joint laboratories and R&D centers between domestic and overseas parties, and the organization of major international science plans and projects.
Drawing on a policy previously introduced, the regulation stresses that overseas R&D agencies and scientists can join local innovators to apply for science and technology projects planned by the government.
The regulation seeks to draw talent from both home and abroad based on the needs and assessment of the market, especially those “urgently needed in constructing the city as a science and technology innovation center.” The regulation requires the government to support relaxing permanent-residency applications for foreign talent.
It encourages both domestic and overseas capital to set up startup investors in Shanghai.
And it emphasizes support for small and medium-sized innovation companies via the construction of public-service platforms, the establishment of special funds and through government purchase policies. It encourages the transformation of old commercial facilities, unoccupied buildings and former industrial plants into innovation parks.
It also encourages innovators to forge alliances in “studies of cutting-edge science and technology and key generic technology” in which they compliment each other in their strengths, share results and take common risks.
The government is to establish channels to rapidly punish infringements of intellectual property rights in “key industries and fields,” and the courts should award high compensation to harmed parties.
The regulation requires assessment of credit information on research projects and respect of intellectual property rights.
The regulation will take effect from May 1.
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