At the meeting of the Political Bureau of the Communist Party of China Central Committee held on July 30th, when deploying economic work for the second half of the year, it was pointed out that "we must adhere to leading the development of new quality productivity with scientific and technological innovation, accelerate the cultivation of emerging pillar industries with international competitiveness, and promote the deep integration of scientific and technological innovation and industrial innovation." Scientific and technological innovation is the core element of developing new quality productivity. The emergence of new industries, new formats, and new business models through technological progress has become a new driving force for promoting high-quality economic development. The proportion of China's "three new" (new industries, new formats, and new business models) economic added value to GDP has been increasing year by year. The National Bureau of Statistics recently announced that according to accounting, the added value of China's "three new" economy in 2024 will be 2.42908 trillion yuan, an increase of 6.7% over the previous year (calculated at current prices), which is 2.5 percentage points higher than the current growth rate of gross domestic product (GDP) during the same period; The proportion of GDP was 18.01%, an increase of 0.43 percentage points from the previous year. Zhang Jun, Chief Economist of China Galaxy Securities, believes that the conference's proposal to "lead the development of new quality productive forces with technological innovation, accelerate the cultivation of emerging pillar industries with international competitiveness, and promote the deep integration of technological innovation and industrial innovation" is an important instruction to transform "technological innovation variables" into "real economy increments". At present, China is in a critical period of transition from old to new driving forces. Vigorously developing new quality productive forces and forming emerging pillar industries with scale and globalization are important tasks at this stage. ”He stated that in the face of the 15th Five Year Plan, cutting-edge fields such as high-end chips, artificial intelligence, commercial aerospace, quantum information, and biomanufacturing are expected to continue to receive support from capital, talent, and policies. According to a research report by Minsheng Bank, the conference once again clarified that technological innovation is the core axis of current industrial policies. It is expected that the development path will focus on eight strategic emerging industries and nine future industries, and run through the "15th Five Year Plan". At the same time, in the future, more emphasis will be placed on technological content, added value, and international competitiveness. Through breakthroughs in core technologies, upgrading of industrial chains, and expanding application scenarios, a sustainable and competitive emerging industrial system will be created to avoid triggering a new round of "internal competition". Enterprises are the main body of technological innovation and the main force driving the transformation of scientific and technological achievements. Differentiated policy support is needed for leading enterprises and small and medium-sized technology enterprises, "suggested Wang Yunjin, Chief Financial Researcher of Guangkai's Chief Industry Research Institute, to build a high-level achievement transformation and pilot platform, and promote diversified transformation models such as" use first, pay later "; Provide scenario applications, upstream and downstream data interconnection and other related services; Establish a fault-tolerant mechanism to leave sufficient space for integrated innovation; Improve tools such as intellectual property pledge financing and technology transfer insurance to broaden the financing channels for enterprises; Optimize the listing standards for hard technology enterprises, attract, cultivate, and strengthen patient capital. Li Chao, Chief Economist of Zheshang Securities, believes that in the future, it is expected to continue supporting financing for technology innovation and growth oriented enterprises through listing and information disclosure, in order to meet the development needs of new quality productivity enterprises. We will continue to promote mergers and acquisitions in strategic emerging industries, smooth exit channels, and promote the transformation of scientific and technological achievements. Many companies are running on the innovation track, demonstrating strong creativity and contributing to the accelerated development of new quality productivity. ”Zhou Chen, Director of the National Economic Comprehensive Department of the National Development and Reform Commission, stated at a press conference on August 1st. In the future, we will focus on promoting the deep integration of technological innovation and industrial innovation. Promote key core technology research and development, carry out industrial innovation projects in key fields such as humanoid robots and future energy, accelerate the implementation of the "Artificial Intelligence+" action to expand application scenarios, and promote high-quality development of the low altitude economy. In addition, the National Development and Reform Commission stated that the next step will be to closely cultivate new driving forces for development and deepen reforms. Optimize the market access environment for new formats and fields, accelerate the formulation of a number of special measures to relax market access, introduce policies and measures to cultivate and open up new scenarios, promote a number of high-value application scenarios with demonstrative, leading, and driving effects, and use scenario innovation to drive technological and industrial innovation. Promote innovative allocation of production factors, pilot comprehensive reform of market-oriented allocation of factors, explore in-depth the implementation path of new factors such as data ownership and participation in distribution, and promote the smooth flow and efficient allocation of various production factors. (New Society)