Basic research

China will invest more in basic research over the next five years, with such funding expected to reach over 8 percent of all research and development (R&D) expenditure, according to the draft outline. It will also formulate a 10-year action plan for basic research.

"We need to strengthen basic research that is highly related to industries of the future," said Tian Gang, an academician of the Chinese Academy of Sciences and also a national political advisor.

"For example, mathematics is the underpinning for QR code and blockchain technologies," Tian said.

China has established 13 applied mathematics centers and plans to build several research centers and platforms for basic disciplines.

Enterprises also embrace the importance of basic research. Tech giant Tencent has launched the Xplorer Prize to engage more in basic science and cutting-edge technology research.

Pony Ma, chairman of Tencent, said he hopes to see more enterprises and social capital investing in basic research.

"We will also strengthen the integration of the innovation and industrial chains, and promote the commercialization of achievements in core technologies and basic research," said Ma, a deputy to the NPC.