The State Council has decided to amend the measures for the recognition of high and new technology enterprises’ status to ensure greater policy support to innovative enterprises and to favor small and medium enterprises.
- Relevant eligibility criteria will be relaxed by (i) reducing the ratio of technicians with a minimum education background of junior college graduation to total employees; (ii) reducing the ratio of R&D expenses to sales revenue of small enterprises; and (iii) abolishing the requirement of intellectual property rights being acquired or exclusively licensed.
- The recognition process will be streamlined and the public notice period will be shortened. In case of relocation, enterprises will keep the granted status.
- Key high and new technology areas eligible for government support will be extended.
Date of issue: January 13, 2016.