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r&d investment in the first half of the year was about 750 billion yuan, and listed companies became the main force in technological innovation

2024-09-12

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technological innovation can give birth to new industries, new models and new drivers, and is the core element of developing new quality productivity. enterprises are the "question setters", "examiners" and "answerers" of technological innovation. in recent years, my country's listed companies have continuously increased their attention to technological innovation, and their r&d investment has continued to grow, which has not only effectively improved the technical level of listed companies themselves and enhanced their market competitiveness, but also provided a continuous source of power for my country's economic transformation and upgrading and the conversion of new and old drivers.

the capital market has become an accelerator for china to cultivate and develop new productivity. in the past five years, the cumulative r&d investment of a-share listed companies has reached 6.4 trillion yuan, accounting for half of the r&d investment of enterprises nationwide; the number of patents accounts for one-third of the number of patents nationwide. in the view of the experts interviewed, information technology, biotechnology, new energy, new materials, high-end manufacturing, service industry and other industries play a key leading and driving role in promoting the transformation and upgrading of my country's economic structure, and contain huge development opportunities.

listed companies actively engage in technological innovation

in a few little-known technological "bottleneck" areas, the long-standing monopoly of high-end equipment by foreign companies is being broken.

"wireless communication test instruments are the 'ruler' of the mobile information highway. without the 'ruler', the deployment of 4g and 5g will be difficult." wang xiaolei, cfo and board secretary of chuangyuan xinke (shanghai) technology co., ltd., told reporters that wireless communication test instruments and equipment had long been monopolized by foreign companies.

through continuous investment in research and development, chuangyuan xinke has gradually mastered a number of core technologies such as ultra-high-speed baseband signal processing platform, multi-standard wireless communication physical layer protocol, millimeter wave circuit design and testing, gradually breaking the monopoly of foreign companies and becoming the domestic leader in the wireless communication test instrument industry.

through continuous r&d investment, chuangyuan xinke has broken the international monopoly in the field of wireless communication test instruments, which is a microcosm of chinese listed companies' commitment to technological innovation. there are many more listed companies that have made fruitful achievements in enhancing the resilience and security level of china's industrial chain and supply chain. for example, jinchuan group has produced ultra-high purity copper, cobalt, and nickel products that can be used in chips through independent research and development in the field of high-purity metals, breaking the monopoly of japanese and american companies in this market.

all of the above achievements are a reflection of listed companies seizing major national strategic opportunities, developing key core technologies, increasing capital investment, and enabling product innovation through technological innovation. in recent years, the scale and intensity of r&d investment by listed companies have steadily increased. according to data from the china association of listed companies, a-share companies invested a total of about 750 billion yuan in r&d in the first half of the year, an increase of 1.3% year-on-year, and maintained growth for many consecutive years. strategic emerging industries, high-tech manufacturing, and industries such as computers, electronics, and mechanical equipment have shown vigorous innovation vitality, with r&d intensity exceeding 5%.

in the long run, continuous r&d investment has made listed companies the main force of technological innovation. as of the end of 2023, in the past five years, the cumulative r&d investment of a-share listed companies has reached 6.4 trillion yuan, accounting for half of the r&d investment of enterprises nationwide, and the number of patents accounts for one-third of the total number of patents nationwide.

equipment updates provide a platform for technology implementation

if r&d investment is a key factor in enhancing the competitiveness of enterprises, promoting technological innovation and realizing product innovation, then equipment upgrades provide a platform for the realization of these new technologies and new products.

beijing northland biotechnology co., ltd. is mainly engaged in the research, development, production and sales of innovative drugs and ophthalmic drugs such as gene therapy drugs and recombinant protein drugs. li yanwei, deputy general manager of the company, pointed out to reporters that in order to expand the production capacity of ophthalmic drugs, the multi-dose eye drop production line was renovated this year, and a new single-dose eye drop production line with an annual production capacity of 120 million was built. the additional production capacity will ensure a stable market supply and will also generate more revenue, laying the foundation for the company's rapid development.

large-scale equipment renewal not only improves production efficiency, but also creates new market opportunities for listed companies. sany heavy industry, liju thermal energy, swan shares, etc. all mentioned on the investor interaction platform that the large-scale equipment renewal policy will help accelerate the replacement of old equipment, stimulate potential demand, and have a positive role in promoting the recovery of the industrial industry. tian xuan, dean of the national institute of finance at tsinghua university, pointed out in an interview with a securities times reporter that by eliminating backward production capacity and introducing advanced and efficient new equipment, enterprises can effectively reduce resource waste, improve resource utilization, and promote the development of the industry towards high-end and intelligent directions, thereby promoting industrial upgrading and structural optimization, and promoting a high-level dynamic balance between the supply side and the demand side.

it is worth mentioning that large-scale equipment renewal has also shown strong driving force in driving investment growth. luo yifei, chief statistician of the investment department of the national bureau of statistics, recently said that all regions and departments have stepped up their efforts to support large-scale equipment renewal and actively promoted the implementation of policies. the growth of equipment purchase investment has led the total investment. from january to july, investment in equipment and tools increased by 17.0% year-on-year, 13.4 percentage points higher than the total investment; it drove the growth of total investment by 2.2 percentage points, 0.1 percentage point higher than the first half of the year.

"excellent students" continue to increase

technological innovation

in recent years, while enterprises have increased their r&d investment, the country has also stepped up efforts to build a policy system to serve scientific and technological innovation. in the first half of the year, the ministry of finance and the ministry of science and technology issued the "management measures for the central funds to guide local science and technology development", guiding funds to support major scientific and technological tasks, the construction of regional scientific and technological innovation systems, the construction of scientific and technological innovation bases, the transfer and transformation of scientific and technological achievements, and free exploration-based basic research. the people's bank of china, together with the ministry of science and technology and other departments, has set up a 500 billion yuan re-loan for scientific and technological innovation and technological transformation, of which 100 billion yuan is specifically used to support the first loan of start-up and growth-stage technology-based small and medium-sized enterprises.

zhu keli, executive director of the china information association and founding president of the national research institute of new economy, pointed out to reporters that relevant policies have provided a clear direction for scientific and technological innovation by strengthening the leading position of enterprises in scientific and technological innovation and establishing a mechanism to cultivate and strengthen leading scientific and technological enterprises. this will help stimulate the innovation vitality of enterprises, encourage them to increase r&d investment, and improve their independent innovation capabilities.

thanks to the two-way efforts of enterprises and policies, my country's scientific and technological innovation has accelerated and borne fruit. the latest data from the state intellectual property office shows that in the first half of this year, my country authorized 554,000 invention patents, a year-on-year increase of 28.0%. as of june this year, the number of valid invention patents in china reached 4.425 million, and the proportion of invention patents owned by enterprises increased to 72.8%, and corporate innovation became more active. the number of high-value invention patents per 10,000 people reached 12.9, achieving the expected goals of the country's "14th five-year plan" ahead of schedule.

technological innovation is the core element of developing new quality productivity. as the "top students" among enterprises, listed companies have continued to focus on the key areas and weak links in the construction of a modern industrial system in recent years, and have increased their efforts in technology research and development in response to bottlenecks in the fields of integrated circuits, industrial mother machines, scientific research instruments, etc. at the same time, they aim at the commanding heights of future science and technology and industrial development, accelerate technological innovation in the fields of new generation information technology, artificial intelligence, biotechnology, new energy, new materials, etc., and cultivate and develop emerging industries and future industries.

many listed companies have signaled that they will continue to promote technological innovation and increase r&d investment. zte said that in 2024, the company will continue to strengthen its r&d capabilities, expand 5g-a innovation, application and practice, continue to strengthen all-optical networks and computing infrastructure, large-scale model r&d and other fields, and actively deploy cutting-edge technologies and valuable patents. fuyao glass has made it clear that it will continue to strengthen technological innovation, increase r&d investment, speed up r&d, promote product upgrades, and enhance the company's core competitiveness in terms of new materials, new processes, new technologies, and cross-domain cooperation.

looking to the future, tian xuan believes that in the context of developing new quality productivity, industries such as information technology, biotechnology, new energy, new materials, high-end manufacturing, and the service industry are closely related to the country's long-term development strategy, have strong growth and innovation potential, and play a key leading and promoting role in promoting the transformation and upgrading of my country's economic structure. they contain huge development opportunities.