China’s hi-tech aspirations get boost with pledge to welcome more foreign-invested R&D centres and lure overseas talent
- Commerce and science authorities say such centres are crucial to fostering a culture of technological innovation, which Beijing has been repeatedly emphasising
- New measures show how China is trying to appear open and collaborative to the outside world
China is rolling out a raft of measures to encourage foreign investors to set up innovation centres in the country and attract professional talent.
The move comes amid the country’s stepped-up efforts to accelerate innovation across the board, with leaders and policymakers in the world’s second-largest economy repeatedly highlighting their intentions to turn it into a global tech powerhouse.
“Foreign-invested research and development (R&D) centres are important components of China’s science and technology innovation system,” the Ministry of Commerce and Ministry of Science and Technology said in a joint statement published by the State Council on Wednesday.
It pledged to “accelerate the implementation of [China’s] innovation-driven development strategy”, “expand international science and technology exchanges and cooperation”, and “increase support for foreign investment in China to set up R&D centres to carry out scientific and technological research and innovation activities”.
To improve foreign-invested R&D convenience, the statement said it will support legal cross-border R&D data flow. Relevant oversight departments will also “efficiently conduct outbound security assessments of important data and personal information to promote the safe and orderly free flow of R&D data”.