Market entities made solid progress in innovation

-- A solid pace of innovation and development will make market players more competitive.

C919 large passenger aircraft flying in the blue sky, Beidou satellite global networking... Since the "13th Five-Year Plan", one innovation achievement has attracted the attention of the world. New technologies, new forms of business and new industries such as high-speed rail, bike-sharing and online shopping have developed rapidly, changing the lives of hundreds of millions of people.

Since the "13th Five-Year Plan", the main role of enterprise innovation has become more and more prominent. In 2019, China's enterprise R&D funding reached 1692.18 billion yuan, an increase of 11.1% over the previous year, contributing 68.5% to the growth of the whole society's R&D funding, and driving the whole society's R&D funding growth by 8.6 percentage points. In 2019, 188,000 industrial enterprises above designated size carried out technological innovation activities, accounting for 49.6 percent.

"During the 13th Five-Year Plan period, the state has increased support for technological innovation in enterprises, and relevant departments have repeatedly optimized and adjusted policies to encourage innovation such as additional deductions for R&D costs." China Association of small and medium-sized enterprises full-time vice president Ma Bin introduced. From 2016 to 2019, a total of 843,000 enterprises benefited from the policy of additional deduction for R&D expenses, declared 5.2 trillion yuan of R&D investment in total, and exempted more than 873 billion yuan of corporate income tax.

Taking root in the fertile soil of the Chinese market, sucking the sufficient nutrients released by reform and opening up, the "14th Five-Year Plan" period, all kinds of market players will make greater contributions to promoting high-quality economic development and building a new development pattern.