中文

Finance Ministry announces reforms for research expenditures

2021-08-31 13:58:51

The Ministry of Finance will implement reform measures for improving the management of central fiscal research expenditures and increase the income of scientific personnel, officials said on Thursday.

Ou Wenhan, assistant minister of the Ministry of Finance, told media at a briefing the new fund management methods will increase incentives for researchers, which is "unprecedented".

The policy emphasizes income from scientific and technological achievements shall be funneled to researchers who have made important contributions and played key roles in those achievements, according to Ou.

The reform will also give researchers more say in fund use to promote innovation, which has core status in the country's modernization drive.

"In terms of funding sources, we will ensure there will be funds to deliver to researchers," Ou said. For certain basic research subjects, such as mathematics, the proportion of indirect costs — including equipment and energy material costs — will be further increased to as much as 60 percent.

In 2021, although the central government's spending decreased compared with last year, the ministry has ensured science and technology expenditures. The budgetary spending in this field reached 322.7 billion yuan ($49.70 billion), which provides strong support for scientific and technological innovation.

(Source: China Daily)