China’s science and tech innovations inject dynamism into high-quality development
The
National Bureau of Statistics (NBS) recently released data which indicated
China’s achievements in scientific and technological innovations over the past
seven decades.
According
to NBS, China’s research and development (R&D) spending hit 1.97 trillion
yuan in 2018 ($286 billion), 138 times the 1991 figure, and the number of
patent applications saw substantial growth.
Experts
noted that enterprises were the primary driver for China’s fast-growing
innovations. In 2017, Chinese enterprises spent 1.35 trillion yuan on R&D,
accounting for 76.5 percent of the national total.
More
companies today value scientific and technological innovations and regard
innovation as the lifeblood of development, according to Zhao Zhiyun from the
Institute of Scientific and Technical Information of China.
In 2017,
China’s high-tech manufacturing industry created 15.9 trillion yuan in main
business income, up 55.8 percent compared with 2012. R&D expenditure used
for high-tech manufacturing increased by 83.6 percent, with an annual growth of
12.9 percent on average.
High-tech
manufacturing, as a part of the real economy, plays a supporting role in the
process of building a modern economy, said Sun Fuquan, vice president of the
Chinese Academy of Science and Technology for Development.
Sun
believed that high-tech manufacturing has yielded remarkable results, as the
country now implements innovation-driven development. This stimulates the
upgrading of conventional industries while catalyzing new industrial forms
toward high-end production.
High-tech
products, including high-speed trains, nuclear power stations, and communication
devices have become China’s overseas business cards, said Zhao.
Meanwhile,
steel, cement, and other conventional industries are increasing their added
value of products through innovation and contributing more to economic
development, Zhao added.
Against
China’s backdrop of profound changes and the upgraded structure of domestic
demand and consumption, experts agreed that technological innovation can be a
decisive force for social reform as it provides high-quality factors of
production and life.
They
suggested emphasizing systematic innovation to unleash its power in driving
economic development.
Source:People’s
Daily Online
On July 24th, the production
workshop of Decheng Power Technology Co., Ltd., located in Zhongguan Town,
Deqing County, Huzhou, Zhejiang Province, workers are rushing to produce smart
grid energy-saving products. (Photo by Xie Shangguo from People’s Daily Online)
China’s science and tech innovations inject dynamism into high-quality development
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