China's economic growth is gradually becoming weak under the new circumstances, so where will the next growth point appear? The 1996 Law on the Promotion of the Transformation of Scientific and Technological Achievements, due to its historical limitations, reflects the shadow of the planned economy and is not in line with the current trend of technology transfer and transformation.
        Innovation is a process of product marketing, and scientific and technological achievements must be transformed before they can better reflect the value of innovation. The transformation of scientific and technological achievements is also an important step to improve innovation capacity. From the international situation, a new round of scientific and technological revolution and industrial transformation is coming, the industrialization of scientific and technological achievements is becoming faster and faster, the global flow of innovation factors is also becoming faster and faster, and international competition is also becoming stronger and stronger. At present, the lack of innovation capacity of enterprises has become a short board in the construction of an innovative country, our knowledge innovation is still very fast, and a large number of scientific research papers and patents are published every year, but the innovation capacity of industries is growing slowly, so we need to promote the transformation of scientific and technological achievements.
        It is therefore imperative to promote technology transfer in institutions of higher learning and scientific research institutions. Firstly, it is necessary to clarify the obligations, i.e. research and development institutions established by the State and institutions of higher education should strengthen the management, organization and coordination of the transformation of scientific and technological achievements. Secondly, they should guide the establishment of a technology transfer mechanism, whereby institutions of higher education and scientific research institutions should carry out technology transfer through their own departments responsible for technology transfer or by entrusting an independent service agency for the transformation of scientific and technological achievements. After completing the technology transfer, they should submit an annual report on the transformation of scientific and technological achievements to the competent department for transmission to the finance and science and technology departments. In addition, a performance assessment and evaluation system conducive to the promotion of the transfer of scientific and technological achievements shall be established.
      In the newly released draft, the main role of enterprises in the transformation of scientific and technological achievements is further clarified, emphasizing the combination of industry, academia and research; strengthening the scientific research institutions established with financial funds and the transformation of scientific and technological achievements financially supported by them; developing scientific and technological intermediaries and public technological service institutions; and strengthening financial support such as capital markets, venture capital and scientific and technological insurance.