The research and development fund of Ningxia Hui Autonomous Region is expected to account for two percent more of its GDP by 2020, according to the Ningxia Scientific and Technological Development Plan of the 13th Five-year Plan released on Nov. 18.

According to the plan, in the next five years, the number of patent application and authorization is expected to grow 10 percent up annually and the funds invested by the government and enterprises on R&D are expected to reach 1.85 billion yuan and 6.4 billion yuan respectively by 2020.

The financing channel of scientific innovation will be broadened by incorporating venture capital innovation, risk compensation, expenditure subsidies, capital fund injection so as to support the development of small and medium-sized scientific and technological enterprises, according to the plan.

The state-level and autonomous regional key laboratories and enterprise technological centers are expected to reach 30 and 80 respectively by 2020, the plan noted. The number of small and medium-sized scientific and technological enterprises in Ningxia is expected to reach 1000 by 2020, according to the plan.

The commercialization of research findings will also be accelerated by establishing specific funds and releasing preferential measures, it added. At least 70 percent of the earnings need to be returned to the R&D team.