ThePaper.cn:

Could you describe the work done by SOEs to quickly foster and develop new quality productive forces through leveraging their advantages? What achievements have been made? What key tasks will be taken to tackle the issues constraining new quality productive forces going forward? Thank you. 

Wang Hongzhi:

Thank you for your questions. Developing new quality productive forces is a major strategic initiative by General Secretary Xi Jinping and the CPC Central Committee. The third plenary session of the 20th CPC Central Committee also made special arrangements in this regard. SOEs play an important role in liberating and developing productive forces, and must contribute to accelerating the formation of new quality productive forces. Since last year, central SOEs have strengthened sci-tech and industrial innovation through unprecedented efforts, achieving positive results.

On the one hand, we have enhanced efforts to spur innovation, coordinating sci-tech and industrial development. We have implemented a series of special-purpose actions to build incubators for original technologies, upgrade industries, foster future-oriented industries, and promote artificial intelligence applications. We have promoted the profound integration of sci-tech and industrial innovation, applying new technologies and modes to catalyze emerging industries and new business formats. We have made breakthroughs with many key and core technologies, created numerous landmark products and developed a number of emerging industrial clusters, with the development of new quality productive forces showing great vitality. 

On the other hand, we have optimized the ecosystem for development, issuing more effective policies regarding new fields and frontiers for development. Taking the opportunity of deepening and improving SOE reforms, we implemented a package of support policies for developing new quality productive forces. For enterprises advancing sci-tech innovation and developing emerging industries, we give additional evaluation points and treat R&D expenditures as profits. This year, more than 80% of the operational budgets of state-owned capital was used for enterprise sci-tech research and industrial upgrading. A total of 250,000 key professionals and researchers received incentives in the form of equity dividends. These efforts created a powerful synergy for developing new quality productive forces.

Overall, central SOEs have formulated a holistic approach and systematic plan for developing new quality productive forces. They have been rapidly improving relevant working mechanisms and systems across various aspects. Looking ahead, we will fully implement the guiding principles of the third plenary session of the 20th CPC Central Committee and the National Science and Technology Conference. By focusing on innovation, industrial upgrading and reforms, we will pool advantageous resources and strengths, and position central SOEs as the primary field and driving force for developing new quality productive forces.

We will work to create an innovation hub and strengthen the primary growth driver for developing new quality productive forces. Focusing on national strategic needs, the development trends of science and technology and the needs of industrial upgrading, we will practice the new system for mobilizing resources nationwide on all fronts and firmly invest in areas with extended periods of research and development (R&D), large R&D investment as well as weak willingness of participation from enterprises of other ownerships. We will establish an upgraded version of the innovation consortia, promote closer collaboration between industries, universities and research institutes, and advance innovation throughout the whole process from basic research to industrial application.

We will work to build an industry leader and further develop the core carrier for new quality productive forces. By means of equipment transformation, technical research, technological upgrading and product development, we will promote the high-end, intelligent and green development of traditional industries. We will give priorities to both endogenous and extended development, continue to improve mechanisms for fostering emerging industries and step up efforts in planning development of new areas and new arenas.

We will work to create a pacesetter for reform and better adapt the relations of production to new quality productive forces. We will speed up the reform of organizational forms and management modes of enterprises, adopt more active, open and effective policies on talent and flexibly carry out various forms of medium and long-term incentives to encourage innovation and creativity. At the same time, we will develop new ways of organization, enhance cooperation among the upstream, midstream and downstream enterprises of the industrial chain and continue to optimize the industrial ecosystem for developing new quality productive forces.

Meanwhile, we also feel that developing new quality productive forces is not only a question that central SOEs must answer but also a common question for various market entities. We will deepen cooperation with various enterprises in new areas and new arenas to jointly develop new technologies and build new industrial ecosystems, advancing the development of new quality productive forces with concerted efforts and continuing to foster new growth drivers and new strengths.

Thank you!