Recently, the Zhejiang Provincial Department of Finance formulated and issued the “Notice on Promoting the Implementation of Cooperative and Innovative Procurement in Government Procurement” to “protect” the implementation of cooperative and innovative procurement. Cooperative innovation procurement means that a buyer invites suppliers to cooperate in R&D, share R&D risks, and purchase successfully developed innovative products according to the quantity or amount agreed in the R&D contract. The “Notice” clarifies that the term of a cooperative innovation procurement R&D contract shall generally not exceed 2 years, and if it is a major cooperative innovation procurement project, it shall not exceed 3 years. Buyers should scientifically estimate the highest R&D expenses, prepare mid-term financial plans for cooperative and innovative procurement projects, arrange annual amounts reasonably, prepare project expenses strictly and rigorously, and include them in the annual departmental budget.

Recently, the Zhejiang Provincial Department of Finance formulated and issued the “Notice on Promoting the Implementation of Cooperative and Innovative Procurement in Government Procurement” to “protect” the implementation of cooperative and innovative procurement. Cooperative innovation procurement means that a buyer invites suppliers to cooperate in R&D, share R&D risks, and purchase successfully developed innovative products according to the quantity or amount agreed in the R&D contract. The “Notice” clarifies that the term of a cooperative innovation procurement R&D contract shall generally not exceed 2 years, and if it is a major cooperative innovation procurement project, it shall not exceed 3 years. Buyers should scientifically estimate the highest R&D expenses, prepare mid-term financial plans for cooperative and innovative procurement projects, arrange annual amounts reasonably, prepare project expenses strictly and rigorously, and include them in the annual departmental budget.