On May 13 the central government's official website was authorized to post Several Opinions of the State Council on Encouraging and Guiding the Healthy Development of Private Investment (hereinafter referred to as Opinions), according to which China will endeavor to do the following things in the coming time.

Promote private enterprises to strengthen indigenous innovation and upgrading, expeditiously carry out the incentive policies on advancing the transformation of S&T achievements, fulfil the favorable revenue policy to encourage enterprises to increase R&D investment and master core technologies with proprietary intellectual property rights.

Assist private enterprises to build engineering and technology research centers as well as technology development centers, add technology storage, foster technical talents and support private enterprises to participate in national major S&T planning programmes and technical hard issues to gradually raise enterprises' technology level and R&D ability.

Quicken the pace of implementing encouraging policies on boosting the transformation of S&T fruits, actively develop technology market, better the recordation system of S&T achievements and facilitate private enterprises to transfer and introduce advanced technologies. Tighten the building of S&T service entities and mechanism innovation to provide a service platform for the independent innovation of private enterprises, boost up private enterprises’ market competitiveness in hi-tech service fields such as information service outsourcing, intellectual property rights, technology transfer and fruit transformation and support private enterprises to develop technology service activities.

Incentivize private enterprises to intensify the development of new products and update their products, reanimate private enterprises to implement brand development strategy, strive for brand products and lift product quality and service level. Encourage private enterprises to take part in international competition, support private enterprises to develop strategic resources and weave a worldwide distribution network, and support the cooperation among private enterprises and between private ones and state-owned enterprises.

Require the competent governmental departments across the nation to pay enough attention to the work on encouraging and guiding the healthy development of private capital, spare no time to work out specific measures and build favorable policy environment and public opinion atmosphere for the sound development of private investment.

The Opinions included 36 articles and 12 chapters, with a total of 5,800 or so characters.
                                                                                                   Source: IPR in China