High and New Technology Enterprise Measures Released

On January 29, the Ministry of Science and Technology (MOST), Ministry of Finance (MOF)and State Administration of Taxation (SAT) jointly released Administrative Measures for the Determination of High and New Technology Enterprises, effective January 1, 2016. 

 

The Administrative Measures include five chapters and 23 articles, and outline conditions and procedures for accreditation, and policy support for high-tech enterprises, especially small and medium sized enterprises. 

 

Key adjustments include: 

• minimum proportion of total R&D spending as percent of total sales revenue reduced from 6% to 5%; 
• minimum proportion of science and technology staff engaged in R&D and technological innovation activities reduced from 30% to 10%; 
• IPR requirements simplified, removing clauses on exclusive licensing and time periods; 
• accreditation process simplified, reducing public announcement period from 15 working days to 10; 
• established mechanism for random inspection and key inspection.