China will formulate standards for green technology innovation enterprises, the National Development and Reform Commission (NDRC) said on May 14.

Placing more emphasis on green technology innovation, China has vowed to see the emergence of 10 leading enterprises in the field between 2019 and 2022, with each boasting an annual output of above 50 billion yuan ($7.31 billion), according to a guideline issued by the NDRC and the Ministry of Science and Technology.

Meanwhile, the country aims to support 100 enterprises to establish national green technology centers and authorize 1,000 green technology enterprises in the period.

To fulfill such targets, the guideline urged more efforts to enhance financial support and encourage enterprises to participate in government-backed and market-oriented projects in green technology innovation.

While improving the incentive mechanism for scientific researchers, the government will facilitate technological upgrading, encourage social investment in green industries and consolidate the intellectual property protection of green technology, it added.