China will improve the way it provides financial support to science and technology development, Xinhua news agency quoted Finance Minister Lou Jiwei as saying Tuesday. Delivering a report to the country’s top legislature, Lou said that despite increasing financial input into the sector, reforms are needed to improve the system’s effectiveness. Basic research relies heavily on financial support from central government rather than local governments or enterprises, and the proportion of R&D expenditure on basic research is too low, the minister said in the report to the Standing Committee of the National People’s Congress. In addition, the science and technology funding system lacks coordination between departments, and relations between the government and the market have not been clearly defined, he said. The most fundamental way to address these problems is to further deepen reform of the science and technology system, the minister said.
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