Yiwu in East China's Zhejiang province will work to promote scientific and technological innovation in response to the Zhejiang Provincial Science and Technology Awards for the year 2021 held in Hangzhou on July 11.

Wang Jian, Party secetary of Yiwu, said that since last year, Yiwu has been implementing an innovation-driven development strategy and has achieved strong results in scientific and technological innovation. However, there still exists various shortcomings and deficiencies, such as a low proportion of R&D investment in GDP, unstable investment in high-tech industries, a low proportion of technology-based enterprises, a relative lack of high-end innovation resources, and problems in the construction of science and technology corridors.

Wang noted that more efforts should be made to encourage scientific and technological enterprises to spend more on research and development by reducing relevant income taxes. More research institutions in line with Yiwu's industrial development are expected to be introduced, and consturction of the Fudan University Yiwu Research Institute and Zhejiang University International Health Medicine Research Institute will be promoted. High-tech projects and talent, especially those involving in optoelectronics, new energy vehicles and parts, high-end chips, smart terminals, and biomedicine, should be further developed and introduced.

Wang added that the city will focus on the construction of the Central Zhejiang Science and Technology Innovation Corridor and accelerate the formulation of a development plan for the Yiwu Science and Technology City and a three-year action plan for the development of scientific and technological innovation.