Universities to retain all income from research findings

A government circular has said that Chinese universities will have autonomy in transferring the intellectual property from scientific research and shall keep all the earnings, reports Xinhua.

According to the circular released by the ministries of education, and science and technology, no less than half of the net earnings from transfers shall be rewarded to researchers. Major contributing researchers and faculty members should take no less than 50% of the total rewards, said the circular.

China has created a series of policies to encourage scientists to translate their research into commercial products. The State Council in March issued a regulation that provides detailed measures for academics and inventors on how to commercially exploit their work, as the country pushes for innovation-driven development. Authorities are also encouraging research institutions and technical personnel to transfer or license their achievements or to invest with them as trade-ins.
Full report on the Xinhua site