East China's Zhejiang province plans to establish 20 manufacturing innovation institutes by 2025 in a bid to accelerate the province's development of a strong manufacturing sector, according to a government announcement on Dec 9.

These manufacturing innovation institutes will be centered on strategic industries, including energy conservation, environmental protection, new energy, petroleum and chemicals, among others, and priority will be given to projects with core technologies.

The new centers are designed to integrate the research resources of high-tech companies, colleges and universities, research institutions and other innovation platforms, as the province looks to speed up innovation in vital technologies, upgrade local industry and improve the competitiveness of local companies.

Zhejiang companies that take the lead in establishing these innovation institutes will receive financial support from the government, enjoying preferential tax policies for research and development, as well as subsidies on purchases of raw materials and important equipment parts.

However, any company looking to construct a new innovation institute will need to comply with a number of strict requirements to receive government approval for the project.

The institute should have a clear direction and goal for development, as well as indispensable leading technologies.

A renowned business leader and innovative team are also considered essential by the government, to ensure the institute is able to exert influence over its industry. The institutes should be able to connect companies and research teams across the entire industry supply chain under the leadership of an influential scholar.

As the institutes need to assume responsibilities for their own finances, the institutes must also be able to demonstrate they have the capacity to self-fund their project and commercial operations, in order to ensure their sustainable development.

In addition, a long-term and detailed project plan including a strategy for research and development, technology transfer from R&D to production, financing and bringing products to market should be shown to the government during its initial phases.

Once a new innovation institute receives the green light, Zhejiang expects the leading companies to make every effort to develop core technologies, promote international exchanges and cooperation, attract talent and build a high-quality team.

The province encourages companies to involve social capital in the preparation of the manufacturing innovation institutes, cooperate with transnational corporations, international organizations and top-notch research institutions, as well as invest in training postgraduate talent and attracting overseas engineers and scholars.