China transforming into innovation powerhouse(2)

People check out a newly released AI studying pad from tech company iFlytek in a shopping center in Shanghai on Jan 17. (CHINA DAILY)

To integrate technological innovation and industrial innovation, Pan said it is necessary to build platforms, improve institutional mechanisms, strengthen the position of enterprises as the main innovators and seamlessly connect the innovation and the industrial chains.

Lei Jun, a deputy to the 14th NPC and chairman of Xiaomi Corp, said: "We are full of confidence in developing new quality productive forces and remain unwavering in driving high-quality development through innovation. This year's Government Work Report consistently emphasizes 'innovation' and 'high-quality development', which deeply inspires me as a private entrepreneur in the tech sector and reinforces my confidence in achieving high-quality growth.

"I am moved by the nation's resolve to enhance the overall efficiency of its innovation system. One line from the report particularly resonates with me — promoting the spirit of scientists and fostering an innovation environment that encourages exploration and tolerates failure. This is the greatest encouragement for scientific research and entrepreneurial innovation."

He added: "Additionally, the report also emphasizes the need to leverage the leading role of sci-tech enterprises to advance high-level self-reliance and self-improvement in technology, which reminds me of the immense responsibility we shoulder."

The senior executive said Xiaomi, which has invested 105 billion yuan ($14.5 billion) on research and development over the past five years, will continue to pursue breakthroughs in more crucial technologies and apply them into products.

Jin Li, vice-president of the Southern University of Science and Technology and a member of the National Committee of the Chinese People's Political Consultative Conference, said: "Relying on the aggregation of scientific and technological resources, China is well-placed to coordinate the comprehensive reform and development of the education, science and technology talent system, so as to unleash a powerful momentum for scientific and technological innovation to lead high-quality development."

In 2024, China's total R&D expenditure reached 3.6 trillion yuan, an 8 percent increase from the previous year. The proportion of basic research funding within the total R&D budget hit 6.91 percent, and there were 14 high-value invention patents per 10,000 people, data from the government work report showed.

These figures reflect China's commitment to increasing its R&D intensity, which stood at 2.68 percent in 2024, surpassing the average level of European Union countries, the National Bureau of Statistics said.

Meanwhile, China possesses the most complete and largest industrial system globally. It ranks first globally in the production of over 220 industrial products and is the only country in the world that has all industrial categories in the United Nations' industrial classification, according to the Ministry of Industry and Information Technology.