Tech China Post #61

China’s Ministry of Industry and Information Technology issued guideline on expansion of solar production capacity including solar cell efficiency. China is world’s largest solar product maker. With the new guideline, the country is stipulating each solar product company to allocate at least $1M R&D annually to fund solar technology innovation and research. (link)

China established a national center for new energy vehicles. The National New Energy Vehicle (NEV) Technology Innovation Center has 21 participants that are NEV manufacturers in China. NEV sales in China have jumped more than 50% in 2017. (link)

No more long lines for VAT refunds at international airports. WeChat and Alipay have established partnerships with tax refund companies around the world to enable Chinese tourists to submit tax refunds applications and obtain refunds directly through their mobile payment apps. According to the World Tourism Organization, oversea travel spending by Chinese tourists account for more than 20% of global personal travel expenditure. (link)

China’s science ministry said the country spent $279 billion on R&D in 2017, risen 70% from 2012. The Science Minister said:“China needs to enter the ranks of innovative countries and become a big technological innovation power by 2050.” (link)

Shanghai is opening more roads to test autonomous cars. The government has issued licenses to SAIC Motor Corp Ltd and NIO. (link)