On 4 June 2020, the Chongqing Municipal People’s Government published the Notice on Further Improving the Innovation of Enterprises (Yu Fu Ban Fa  No. 58). The Notice outlines a series of measures that relevant municipal departments must implement over the short/medium-term to increase the innovation of enterprises. The main highlights include:
- In terms of enterprise growth, more efforts will be put forth to cluster and concentrate resources, and to attract, nurture and expand a series of HNTEs and tech enterprises with core competitiveness;
- In terms of R&D presence, the municipal administration will increase its support to local leading enterprises establishing R&D departments; to local enterprises establishing R&D structures in developed countries or regions; and international or other domestic renowned enterprises to establish R&D structures in Chongqing;
- In terms of enhancement of R&D activities, efforts will be made to launch megaprojects and to increase the R&D of key core technologies and the transformation of technology achievements in key areas, such as big data, AI and integrated circuits;
- In terms of distribution and layout, efforts will be made to increase the role of the national high-tech zone and the economic and technological development zones as magnets talents and S&T achievements. Enterprises will be encouraged to agglomerate around universities;
- In terms of financing, procedures and tools for local enterprises to obtain credit will be streamlined and fine-tuned, including IPR pledge financing
The goals, by 2022, are to increase the average R&D expenditure of Chongqing-based enterprises to 1.6% of their turnover; and to increase the number of (i) R&D structures in the municipality, (ii) of HNTEs and high-growth tech SMEs to 4,000, and (iii) of enterprises with R&D operations to 25,000.