Sources from the SOEs S&T innovation conference said on June 23, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) requires the top SOEs to accelerate innovation and S&T progress, and make efforts to double the invention patent grants by the end of 12th Five Year Plan with 60% to the economic development from scientific advancement.

According to SASAC's opinion on strengthening SOEs innovation, these companies would further improve their innovation capability and develop a group of international famous brands with self-reliant IPRs; S&T and R&D input would account for 2.5%+ and 1.8%+ of total revenue respectively.

(China IP News)