Overview of S&T
ChemChina has regarded scientific innovations as the driving force for sustainable development. Adhering to a development strategy of “established chemical enterprise, new materials”, it tries to improve scientific innovation mechanisms promote scientific conversions and applications, boost intellectual property protections and enhance self-innovations and sustainable development.
ChemChina has set up an science and technology division and commission to provide decision-making and technical support on major projects. It founded the ChemChina Science and Technology Awards for organizations and individuals contributing to chemical science R & D, applications and popularization of advanced science and technology. The ChemChina Science and Technology Fund support innovations in the sector. The award encourages patent inventions. It has also undertaken a national scientific support program, 863 program, major technical innovations and industrialization to promote an innovation platform innovations, builds an open innovations system and provide support for ChemChina.
ChemChina implemented its Eleventh Five-Year plan to increase investments in science and technology, reporting 12.471 billion yuan total , 14.5 percent annual growth, and approximately 2.14 percent of its sales revenues. It established national research institutes and provincial/ministry-level R & D centers.
During the Twelfth Five-Year plan period ChemChina will adhere to the objective of expanding to major businesses, for product structural adjustments and make technical upgrades to and shift its major businesses into high added value and high growth sectors and form the "3+1" industrial structure of material science, life science, environmental science and basic chemical industry.