Former President of the Chinese Academy of Sciences, Bai Chunli: Optimize financial and tax incentive policies, and increase support for investment in basic research.

On December 18, Bai Chunli, academician of the Chinese Academy of Sciences and former president of the Chinese Academy of Sciences, stated at the 2026 "Economic and Financial" Annual Meeting: Prediction and Strategy and the 2025 Global Wealth Management Forum that corporate basic research should become a key pillar of the national innovation system. It is necessary to form a stronger synergy in areas such as optimizing input structure, risk-sharing mechanisms, adjusting evaluation orientation, and platform support system. Bai Chunli suggested improving cashable incentives and risk-sharing mechanisms to ensure long-term investment yields long-term returns. It is necessary to optimize financial and tax incentive policies, increase support for basic research investment in terms of strength and precision, and explore post-grant rewards and continuous incentives for breakthroughs in major principles. It is essential to develop patient capital, improve risk compensation mechanisms, promote the complementary advantages of state-owned capital and social capital, share risks and benefits, provide stable funding sources and institutional guarantees for enterprises to carry out long-term research.