The National Natural Science Foundation of China (NSFC) on Thursday announced an investment of five billion yuan (US$625 million) in around 10,000 projects of bold research in the coming five years.

The investment will encourage "bold and transforming" discoveries in natural scientific research, Chen Yiyu, NSFC president, said at the Forum on Science Frontiers and China's Opportunities in the 21st Century.

"We will not necessarily invest in consensus-oriented scientific investigations," Chen said, adding that incremental public funds for research and development should be used for high-risk but high-yield research.

While allocating some funds for autonomous frontier research conducted by early-career researchers, the NSFC still emphasizes the importance of "strategic planning" of scientific research, which includes 1,800 key projects, 30 large projects and 15 research programs.

The NSFC also encourages the brightest young scientists to focus on developing ground-breaking theories, methods or tools.

Chen, who is also member of the Chinese Academy of Sciences (CAS), said the NSFC needs to tolerate fruitless research endeavors and create an innovation-friendly environment for talented scientists.

"The NSFC should be the most transparent and effective mechanism for boosting innovation in China," he said.

Based on the National Science Foundation of the United States, the NSFC was kicked off in February 1986. In the past two decades, it has channeled about 18 billion yuan into more than 100,000 research projects.

"The foundation helps China attract outstanding researchers from overseas and stabilize the home research forces," Chen said.

(Xinhua News Agency May 26, 2006)