The Beijing Economic and Technological Development Area (BDA) recently issued policies to accelerate the construction of an International Science and Technology Innovation Center and create a base for cutting-edge industries.

The polices include 20 specific measures that cover five areas, including the transformation of achievements, the improvement of the innovation ecological chain, and the deepening of open and collaborative innovation, referred to as the "20 scientific and technological innovations".

The "20 scientific and technological innovations" propose that institutions undertaking core projects will be given financial support of up to 50 percent of their R&D investment, with a maximum funding amount of 50 million yuan ($7.9 million). 

For those undertaking major national and Beijing-based science, technology and industrial projects that are in line with the development direction of the BDA, a maximum of 1:1 funding support will be given, with the maximum annual funding amount for each project set at 20 million yuan.

Leading enterprises are encouraged to take the lead in building innovation centers with universities, institutes, and small and medium-sized enterprises to enhance their industrial innovation capabilities. 

For large and medium-sized key enterprises and outstanding companies whose annual R&D expenses are beyond the annual target value, support will be given according to 20 percent of the extra part, with the maximum amount of funding reaching 3 million yuan.

High-end talents recognized by the BDA can enjoy relevant preferential policies related to innovation and entrepreneurship, housing, medical care, and education for their children.

The construction of international cooperation parks will be accelerated and the introduction of world-class innovation institutions and talents will be promoted to encourage enterprises to set up offshore innovation centers in intellectual-intensive regions around the world.