Strategy for Innovation and Development of Science and Technology

Abstract: Scientific and technological innovation and enterprise research and development have always been highly valued in the United States, the government supports the scientific and technological innovation and promotes the rapid development of industry through R&D funding and tax incentives. Though China's scientific and technological innovation industry started late, the policy towards innovation industry has been sorted out with the implements of the innovation-driven development strategy. In recent years, China's tax incentives are continue to be improved, but still need further promotion in the structural tax reduction. Compared with the world's innovative countries, the intensity and scale of China's research and development expenditure still have some distance away, but the gap is gradually decreasing. In addition, although the intensity of research and development investment in Guangdong province has been improved, but compared with other domestic provinces, there is still a large gap, and the impact of the stop of R&D funding needs to be empirical researched.

Key words: tax incentives, R&D funding, policy recommendations