Policy Interpretation of Hainan Province's Key Research and Development Project: 'Leading the Charge with Open Competition'
揭榜挂帅(jiē bǎng guà shuài) The 'Open Competition' Approach refers to a new technology project approval method in which the requesting party proposes specific technology research and development along with outcome transformation needs. The science and technology administrative department provides a platform to release task lists, promotes the connection between supply and demand, and approves certain funding subsidies to accelerate the resolution of technical difficulties and the transformation of scientific and technological achievements.
There is no registration time requirement for the entities submitting their lists and no age, educational background, or job title requirement for the responsible team leader.
Foreign experts may formulate project implementation plans based on the list requirements through the project entity and express their intention to participate.
The issuer selects the submitting entity through expert evaluation, administrative approval, and other means, signs a cooperation agreement, and jointly revises and improves the project implementation plan, submitting it to the Provincial Science and Technology Department. After the Science and Technology Department organises project reviews, administrative decision-making, project publicity, and other procedures, the approval document for the project is issued, and the issuer and the submitting entity sign a project task book and disburse project funding.
The (jiē bǎng guà shuài)'Open Competition' project is a key research and development project in Hainan Province, which is organized and implemented in accordance with the "Interim Measures for the Administration of 'Jiebang Guashuai' for Science and Technology Projects in Hainan Province" (Qiongkegui  No.1) and the "Interim Measures for the Management of Key R&D Projects and Funds in Hainan Province" (Qiongkegui  No.18).
Project implementation period shall be no more than 3 years, and the maximum amount of financial support from the provincial finance department shall not be more than 5 million yuan. For leading entities of public institutions in charge of the project, after the project is approved, the financial support funds are disbursed to the leading unit in a lump sum. For leading entities of enterprise units in charge of the project, after the project is approved, the project leading unit is disbursed up to 50% of the total financial support fund. After the project acceptance, corresponding subsidies will be provided based on the project completion and fund usage.