On the morning of September 14, 2011, the Annual Meeting of the New Champions 2011 (the fifth Summer Davos) of the World Economic Forum opened in Dalian. Chinese Premier Wen Jiabao attended the opening ceremony and delivered a speech entitled Promote Sound, Sustainable and Quality Development. He noted that China will continue to build an innovation-driven society, speed up the development of an innovation system, and enhance the role of science and technology in driving economic and social development and stressed that China will enhance capacity in creating, utilizing, protecting and managing intellectual property rights and inspire the whole society to innovation.

He stressed that R&D is crucial in guiding our efforts to accelerate the change of growth model. During the 12th Five-Year Plan period, China will lend greater priority to R&D, deepen reform of science and technology institutions, and address the challenges that haunt R&D in fully meeting the need of economic development. China will increase investment in science and technology and raise the share of budget for R&D in GDP from 1.75% to 2.2%. China will closely follow the latest progress of cutting edge technologies overseas, strengthen fundamental research and the research of high technologies of strategic importance, and integrate resources to make breakthroughs in developing core technologies. 

(China IP News)