Country’s new ‘bounty system’ to boost tech innovations

Beijing: China has adopted a new “bounty system” to give young and capable scientists more opportunities, facilitate the commercialisation of their research results, and help them clear technological obstacles to meet the country’s socioeconomic needs, experts said.

According to the system called jie bang gua shuai (“accepting the bounty and taking charge”), the government will unveil a list of specific research obstacles submitted either by public institutions or private companies, and all capable research teams can apply to clear those obstacles irrespective of their age, educational qualifications, or the job positions of their leading scientists.