Innovation and green growth, the two words are very likely to become key words in the coming the 3rd plenary session of the 18th CPC central committee.
--- According to the reform roadmap proposed by the NDRC, in order to foster an equal and inclusive innovation environment for companies, the government will reduce its intervention in the market, and instead, reinforce regulation, law enforcement and supervision. The government will also reform the way it finances academic research in universities. The government used to directly fund research topics. Now according to the reform plan, it will, in the future, utilize various financial tools, such as setting up funds, to provide research funding.
--- Now green growth, the government will incorporate the power of the market in its environmental protection scheme. This includes setting up various pollution trading systems and fostering cooperation in emission reduction measures across regions. The government will gradually raise the compensation for mining companies to expand operations, in order to internalize its environmental cost. What’s more, the government will speed up the drafting of various environmental protection laws as well.