Pudong releases new plan to spur R&D

The annual growth rate of research and development investment in Pudong New Area is expected to exceed 10 percent by 2025, according to a new development plan released on Wednesday.

The plan, which aims to strengthen Pudong's scientific innovation capability during the 14th Five-Year Plan period (2021-25), states that the Shanghai region is expected to have at least 250 public services platforms at the municipal level or above serving technology companies during the period.

The plan also stipulates that there should be over 50 high-value patents per 10,000 people, at least 200 innovation incubators, and 100 bases for the popularization of science in Pudong by 2025.

More efforts will be made to spur cutting-edge scientific research and seek breakthroughs in key technologies and product innovation, said Xu Minxu, deputy director of Pudong's technology and economic commission.

Xu added that more high value intellectual property rights should be nurtured within Pudong, while more application scenarios of R&D results would also be explored. Pudong will also strive to host several "hardcore" high-tech companies as well as a world leading innovation cluster, she added.