China to continue innovation-driven development strategy

BEIJING, March 5 (Xinhua) -- China will continue its innovation-driven development strategy and strengthen the foundation for the real economy, according to a government work report submitted Saturday to the national legislature for deliberation.

China will promote scientific and technological innovation, so as to upgrade its industries, eliminate the bottlenecks in supply, and realize high-quality development through innovation, the report said.

The country will continue to engage in international scientific and technological cooperation, and step up efforts to build talent centers and innovation hubs of global importance.

China will raise the deduction coverage for small and medium sci-tech enterprises from 75 percent to 100 percent, and grant tax breaks to enterprises that invest in basic research.

China will also boost the core competitiveness of manufacturing, launch a group of industrial foundation reengineering projects, and help upgrade traditional industries, the report added.