Minister of Science and Technology Yin Hejun: Continue to improve the implementation mechanism of tax incentives for technology innovation.

In May 2025, the Ministry of Science and Technology and six other departments jointly issued the "Several Policy Measures to Accelerate the Construction of a Science and Technology Financial System to Provide Strong Support for High-level Scientific and Technological Self-reliance". This formed a policy "combination punch" for the high-quality development of science and technology finance. The National Venture Capital Guiding Fund was launched and implemented, the scale of re-lending for scientific innovation and technological transformation increased to 800 billion yuan, and the "Technology Board" of the bond market was officially launched. These measures effectively guide financial capital to invest in early-stage, small-scale, long-term, and hard technology. Yin Hejun stated that the Ministry of Science and Technology will continue to build a science and technology financial system that is compatible with technological innovation, increase financial support for technology-based small and medium-sized enterprises, and smooth the channel for the transformation of scientific and technological achievements. Minister Yin Hejun of the Ministry of Science and Technology also stated: continuously improve the implementation mechanism of tax incentives for scientific and technological innovation, increase the deduction ratio for enterprise research and development expenses, guide enterprises to increase research and development investment, strengthen the main position of enterprise transformation of achievements, enhance the ability of enterprises to absorb and transform scientific and technological achievements, accelerate the efficient transformation and application of major scientific and technological achievements, and promote the incubation and cultivation of technology-based small and medium-sized enterprises. The Ministry of Science and Technology will work with relevant departments to continuously strengthen the coordination and implementation of policies, and provide continuous and strong policy support for business technological innovation.