Let enterprises take the lead in the wave of technological innovation

Securities Times Reporter Han Zhongnan

The “14th Five-Year Plan” period is a crucial phase for fundamentally achieving socialist modernization and making comprehensive efforts, with scientific and technological innovation positioned as a core element of new productive forces. The “14th Five-Year Plan” outline clearly states the need to accelerate high-level technological self-reliance and self-improvement, leading the development of new productive forces, and has laid out plans to strengthen original innovation and tackle key core technologies. Among them, new proposals such as “reinforcing the leading role of enterprises in technological innovation” and “establishing a corporate R&D reserve system” have drawn significant market attention.

The “14th Five-Year Plan” outline proposes to strengthen enterprise-led integration of industry, academia, and research, emphasizing the word “leading.” In the past, cooperation between industry, academia, and research often unfolded with universities or research institutions setting the agenda and companies responding, or companies funding research institutions. Although there has been a trend of integration, efficiency has still been low in practice due to misaligned goals.

Now, emphasizing the leading position of enterprises in technological innovation means encouraging them to “set the agenda” based on real industry needs, forming innovation alliances led by tech-leading enterprises, and organically connecting the foundational research advantages of universities, the original innovation capabilities of research institutions, and the market sensitivity of enterprises. Enterprises must not only “shoulder the burden” in technological innovation but also accurately target market demands to achieve precise alignment between the innovation chain and the industrial chain.

Using a policy system as institutional support is the “ballast stone” to solidify enterprises’ increased investment in technological innovation. The “14th Five-Year Plan” outline proposes to enhance the supply of inclusive policies to create a favorable environment for enterprise innovation. Specific measures include: raising the proportion of additional deductions for corporate R&D expenses, establishing a corporate R&D reserve system, and building a high-quality bond market “technology board.”

Many enterprises have responded enthusiastically to the establishment of the R&D reserve system. For a long time, some enterprises’ R&D investments have been constrained by operational fluctuations, investing more when funds are available and less when they are not. The core of the R&D reserve system is to guide enterprises in transforming R&D investment into “strategic reserves.”

Through institutional arrangements, enterprises are encouraged to make provisions in advance according to their development plans and use funds specifically for this purpose, ensuring that major technological breakthroughs have continuous and stable financial resources. This not only affirms the long-term investment of enterprises but is also an important measure to enhance the stability of the national innovation system. When every innovative enterprise is sufficiently equipped with “ammunition,” the micro foundation for technological self-reliance and self-improvement will be more solid.

The transition of technological achievements from the laboratory to the production line often involves a “daring leap.” The “14th Five-Year Plan” outline deeply recognizes the important bridging role of enterprises.

Whether encouraging leading tech enterprises to open research conditions and application scenarios to small and medium-sized enterprises or guiding universities and research institutions to license technological innovations to small and medium-sized enterprises on a “pay after use” basis, the underlying logic is to leverage enterprises’ keen market perception advantages, allowing technology supply to be tested on the front lines of the industry, enabling innovative products to iterate and upgrade in real scenarios, and making enterprises a smooth channel from “shelves” to “storefronts.”

When enterprises thrive, the economy thrives. When enterprises truly “shoulder the burden” in the wave of technological innovation, when innovation resources accelerate their aggregation towards enterprises, and when institutional guarantees safeguard enterprise innovation, the “blossoming” of technological breakthroughs will create a “garden in full spring” for the development of new productive forces.

(Edited by Wang Zhiqiang HF013)

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