This paper begins with examination of disadvantages of current funding system for research with public finance,such as the
over-dispersion of the funds,the lack of the top-level design,the poor command of the overall situation and the inefficiency.It proposes a new funding scheme of quasi-purchase of research outcomes to complement the project-based system and the institutional fund-allocation system.It suggests to transform and expand the National Natural Science Fund into the
National Science and Technology Fund.By means of which most of the scattered S&T funds set up with public finance can be incorporated for better utilization;Suggests to transform and expand the National Natural Science Foundation into the
National Science and Technology Foundation so that with the new foundation the public finance S&T input resources can be managed and allocated professionally;It is reckoned that the new funding system is preferable as it is viable for overall control of public fund for research,it comprises 3 complementing schemes which leads to higher efficiency,it promotes the professional allocation of research fund independent from the bureaucratic interference,it helps improve the high-level management of research projects,outcomes,and researchers,and it contributes to the information sharing in the national wide.