Hong Kong Economic Journal Instant News – China Finance – Xi Jinping: Take more effective measures to address China’s technological development challenges – The Hong Kong Economic Journal website hkej.com

President Xi Jinping stated that we must adapt to new circumstances and requirements, adopt more forceful measures, and effectively address the issues existing in China's scientific and technological development; create diversified application scenarios and high-level industrial clusters, and promote the推广应用 (popularization and application) and iterative upgrading of independently developed technological products.

He said at the National Science and Technology Awards Conference that we must enhance the systematic tackling capability of scientific and technological innovation and improve the overall efficiency of the national innovation system; build a technology-finance system that aligns with scientific and technological innovation. We must strengthen technology ethics and security governance, and promote technology that is good, safe, and controllable.

At the same time, we must strengthen the independent guarantee of basic conditions for scientific research; guide enterprises to increase R&D investment, and mobilize more social forces to support scientific and technological innovation. All regions must explore innovation development paths based on local conditions, and must not blindly follow trends or chase hot spots, engaging in "involution-style" competition or homogeneous development.

He pointed out that we must promote the healthy and stable development of the venture capital market, smooth the investment and financing channels for enterprises; guide financial capital to invest early, invest in small projects, invest long-term, and invest in hard technology; we must improve the allocation and management mechanism of central government science and technology funds, with a focus on strategic and key areas.