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BEIJING, March 20 (Xinhua) -- China's Minister of Industry and Information Technology Miao Wei said Sunday, to promote innovation in China, creating a favorable environment was more important than simply giving price subsidies.
"There are many ways to encourage innovation but an environment that favors innovation and tolerates failure is more effective," said Miao at the China Development Forum 2011.
"We use price subsidy mechanisms only for a certain period of time and at times when the market fails to perform its function," he said.
He said China strictly abides by the WTO rules in granting the subsidies. "All enterprises running business in China, all products that meet certain requirements are qualified to get the subsidies."
He stressed the importance of protecting the intellectual property rights (IPR), saying that "No one would like to be creative in a country where plagiarism is rampant."
He said that China had recently launched a campaign among government organs to crack down on IPR violations. All government authorities were asked to use genuine computer software.
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