The State Council recently issued a regulation on how to implement a bill on the commercialization of scientific research findings, China's cabinet announced Wednesday.
The regulation provides detailed operational measures for academics and inventors on how to commercially exploit their work, as the country pushes for innovation-driven development.
The regulation follows a bill on promoting innovation and entrepreneurship, which was passed by the National People's Congress (NPC) Standing Committee in August 2015.
The regulation stressed "the sound integration of scientific research with Chinese economic development," and encouraged research institutions, enterprises and technical personnel to actively transform their scientific achievements.
According to the regulation, state-owned research institutes, companies and universities are able to transfer or license their sci-tech achievements or invest with them as trade-ins.
To enhance interaction between scientists and potential industrial users, the regulation encouraged enterprises, research institutes and universities to set up R&D platforms and technology-transfer institutions.
Researchers are also encouraged to run start-ups and can retain their posts at state-owned enterprises for no more than three years.
