Innovative approach to boost businesses

Investment, tax policies among new key measures

The unleashing of policies by the State Council to boost the innovation capacities of businesses indicated the country's resolve to move its manufacturing sector up to the medium-high end of the global value chain, according to experts and officials.

The Cabinet decided at an executive meeting, chaired by Premier Li Keqiang, on May 14 that a host of steps will be adopted to see that businesses can increase their investment in research and development. The meeting also pledged better implementation of policies to support the innovation efforts of businesses of various ownerships.