Business / Technology

China vows more budget support for technological innovation

(Xinhua) Updated: 2016-06-02 09:40

BEIJING - China announced more budget support for technological innovation on Wednesday.

The government will simplify budgeting for research projects, increase incentives for researchers and relax the management of equipment purchases, said a statement released after an executive meeting of the State Council.

Research and development institutions will also enjoy preferential treatment in land use.

The meeting also agreed to cancel official qualification licenses for 47 more occupations including property manager and flower arranger after canceling 272 similar items in the past two years.

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