Corporate R&D Reserve System:Concept,Logic and Suggestions
Cao Yougen1, Ren Shengce2, Ye Jiangfeng1, Yang Boxu3
1. School of Business,Anhui University,Hefei 230601,China; 2. Shanghai International College of Intellectual Property, Tongji University,Shanghai 200092,China; 3. Institute of Quantitative and Technological Economics,Chinese Academy of Social Sciences,Beijing 100732,China
Abstract：Establishing a corporate R&D reserve system is a strategic measure to strengthen firms' role as the principal actors of innovation and to achieve greater strength and self-reliance in science and technology.Given the relative paucity of theoretical research,this study conducts a systematic analysis of the policy evolution,conceptual connotation,underlying logic,and practical progress of the system.The findings indicate that the R&D reserve system is a dedicated funding mechanism,established under policy guidance,to ensure the stability of firms' R&D investment.Its development has undergone three stages:policy foundation,conceptual formation,and institutional deepening.The underlying logic is reflected in the transition from R&D investment to a long-term investment mechanism(historical logic),from scale-oriented innovation to high-quality and resilient innovation(practical logic),and from rigid risk responses to flexible resilience(innovation logic).In practice,the system remains at an exploratory stage,constrained by insufficient top-level design and micro-level implementation.To advance its development,this study proposes a dual-structure framework comprising“statutory R&D reserves + excess R&D reserves,”along with targeted recommendations at both the governmental and firm levels.The findings not only enrich the literature on firms' role as innovation actors but also provide valuable insights for upgrading the R&D reserve system to national laws and policies.
2026, 
