Shanghai Outlines Plans to Boost Science and Technology Sector
26 April 2019
The Shanghai Municipal Government recently released plans to boost the city’s science and technology sector.
The plans identified several priority development areas, including:
i) Giving greater support to small and medium-sized new- and high-tech enterprises by offering them income tax concessions, weighted pre-tax deductions for R&D expenses and via other incentive-related policies
ii) Increasing government procurement with regard to major innovation products and services, as well as key technologies. To this end, in future, procurements from medium-sized, small and low-profit enterprises will account for no less than 30% of the total annual procurement budget of municipal-level government departments, with no less than 60% of this budget set aside for small and low-profit enterprises
For further details (in Chinese), please access the following link:
- Mainland China