Scientists awarded funds amid nationwide R&D push

China's private enterprises are expected to play a bigger role in driving the basic research of original innovations to help the country gain more scientific breakthroughs and a global foothold amid rising technological competition, said industry experts and company executives on Monday.

They made the comments as 46 scientists were awarded 15 million yuan ($2.05 million) to 25 million yuan each to explore original breakthroughs over the next five years under the New Cornerstone Investigator Program, one of the largest social funds for basic research led by a group of scientists and Tencent Holdings, on Monday.

The New Cornerstone Investigator Program, a new type of basic research award, is an independent nonprofit funding initiative that pledges to provide a select group of exceptional scientists with stable and long-term support for discovery research.