Author(s)

Yu Yabin, Zhang Zhiying

Corresponding Author

Yu Yabin

Abstract

Government policy has become one of the effective ways to provide targeted support in innovation activities. It also promote the rapid and efficient development of innovation and entrepreneurship. Science and technology innovation policy has been playing a crucial role in guiding companies to spend more on research and development. The latest R&D subsidy policy carried out in Hangzhou is in the form of ex post allowance, emphasized the data reliability, and funding for self-raised R&D capital. This is much different from the previous R&D subsidy process which gives grant just after the application and review of the projects. In this way, the new form of R&D subsidy policy improves the efficiency of government fund use, as well as to guide enterprises to increase R&D investment.

Keywords

R&D investment; Subsidy; Policy analysis