Industry News
Innovative direction of chemical technology under the 12th Five-Year Plan

An Industrial Technology Innovation Plan, a part of the "12th Five-Year" Plan, was published on Nov 14 to show the direction of technological innovations in the industrial sector, including the petrochemical and chemical, and to provide concrete goals, such as raising the amount of company R&D spending in relation to total income.

It states that, by 2015, enterprises will need to raise their innovative capacity demonstrably, with the amount spent on R&D, in relation to business income, above 1 percent in enterprises of a certain size. It will have to be above 10 percent in backbone enterprises. Core industrial technology and technology covered by intellectual property rights needs to be developed and there will have to be major breakthroughs in removing bottlenecks that stop the development of key industries. The technical level of key industries will also have to be raised significantly.

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