Home » Scientific and technological innovation stimulates surging power – First-line observation of China’s high-quality economic development in 2023 – Guangzhou Municipal People’s Government Portal

Scientific and technological innovation stimulates surging power – First-line observation of China’s high-quality economic development in 2023 – Guangzhou Municipal People’s Government Portal

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The Chinese high-quality economic development for 2023 is proving to be a year of significant scientific and technological innovation. This innovation is sparking new methods and practices across various industries and is beginning to have a global reach.

One of the leading advancements in technology relates to optoelectronic information technology. It has continued to progress, leading to precision processing, new chips, and even autonomous driving. This technology has led to the emergence of new fields and industries. In Shaanxi, the development of the optoelectronic industry has resulted in the spawning of over 50 light-related technology companies, with many holding over 50% of the market share in niche fields.

The importance of the transformation of core technological achievements into real industries has also been demonstrated. Severus Semiconductor Company, which was founded in the United States before moving to Xi’an, is a clear example of how advanced equipment is essential for rapid mass production within the optoelectronics sector. Innovation in technology is vital to the growth of industries and enables faster, more efficient operation of these companies.

In the pharmaceutical industry, Innovent Biologics has achieved international recognition with the authorization for the global marketing of their independently developed Tolesimab injection, which is the first PCSK9 monoclonal antibody drug in China and the third in the world. The company has made significant investments in research and development and has launched ten innovative drugs over the past 12 years. The success of Innovent Biologics demonstrates the importance of independent innovation in driving industry growth.

The trend of high-quality economic development is not limited to technology and pharmaceuticals. Advanced manufacturing has also seen significant growth, particularly in Guangdong, where investment in industrial technological transformation has increased by 22.3% year-on-year. Similarly, Shanghai is planning to build around 60 characteristic industrial parks, with the total industrial output value above a trillion yuan.

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The transformation and upgrading of traditional industries have been driven by technological innovation. Shaanxi Coal Group used “5G+Industrial Internet” application systems to connect underground equipment and operate smart mines. Feijian Industry and Trade Co., Ltd. in Zhejiang has embraced digital upgrades, leading to increased efficiency and faster production. The integration of digital and physical entities has become a key driver in strengthening industrial chains and enhancing competitiveness.

The Ministry of Industry and Information Technology has emphasized the importance of advanced manufacturing clusters in the high-quality economic development of China. Investment in technological transformation has seen massive growth, which has promoted the transformation and upgrading of traditional industries.

Furthermore, new fields and industries are being pursued to capture market trends. Qiannao Technology has shown the capability of accelerating research and development in areas such as bionic prosthetics and intelligent rehabilitation. Levima Xinke is in the process of constructing a 50,000 tons/year polypropylene carbonate biodegradable material project, which is expected to be operational by the end of 2025.

These advances showcase China’s push towards high-quality economic development, driven by scientific and technological innovation. From optoelectronic information technology to pharmaceuticals and advanced manufacturing, the influence of innovation is being felt across industries on a global scale. The continuous strides in technology and industry are setting the stage for promising future growth and development.

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