CPPCC Member: Use tax cuts to incentivize scientific research

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Wang Xiaochuan was well-known as an innovative entrepreneur, and his company, Sogou, was successfully listed on the New York Stock Exchange. But now he has a new role which lets him shine in a different light.

Last year as a new member of China's top political advisory body, Wang told CGTN that he proposed using tax cuts to incentivize scientific research.

CGTN's Zou Yun talks to Wang Xiaochuan, CPPCC Member /CGTN Photo‍

"China's total investment in application-based research is around 1.6 trillion yuan. But the rate of technology transfer from this research is lower than that of developed countries. The main reason is the investment is spent before tangible results are made. So my tax cut proposal was aimed at commercializing the research and bringing real social benefits."

Wang's proposal not only got positive feedback from the government but was even partially adopted and converted into articles of policy.

"My proposal was partially accepted in an official document made by the Ministry of Science and Technology as well as other governmental departments. This document has now been implemented by universities and research institutions. Earlier this year, the Beijing Taxation Bureau sent tax experts to talk with us on how to encourage scientific innovation with tax cuts more effectively."

And for this year, he will try to push forward this proposal with more concrete matters.

"This year on one hand it focuses more on the innovation of private companies, and on the other, with the help of local taxation officials, we are able to better the evaluation system and return analysis."

From being an entrepreneur to a CPPCC member, Wang realizes that what he said and what he suggested is not only changing his own company but even making a nationwide impact.

As a pioneer and strong supporter of Artificial Intelligence (AI), he says China's application of AI is leading the world, and at this year's Two Sessions, he will also call for the government to take a chance, and further upgrade the AI industry.

"The openness of big data will decide the core competencies of China's future AI development. Even though there have been improvements, there's still a lot of room for the government to further open its data access."

Wang Xiaochuan's AI-technology based assistant /Photo via Sogou

Besides the new proposals, ideas and visions that Wang Xiaochuan will bring to the CPPCC annual session, there's also a new virtual assistant based on AI technology that's going with him to the meeting this time. This assistant has the voice and facial expressions of Wang Xiaochuan, being able to verbalize and visualize the content input in the text.