The "2026 State-Owned and State-Invested Enterprises High-Quality Development Innovation Conference" was held in Beijing from October 22 to 24 under the theme "Anchoring National Strategy, Forging Core Functions — Empowering Chinese-Style Modernization Through High-Quality Development."
Huang Qunhui, a member of the 14th National Committee of the Chinese People's Political Consultative Conference, said in his speech that for the development of new quality productive forces, it is necessary to "treat innovation and quality improvement as the development orientation for all business formats, with enterprises as the main body, innovation transmission and technology diffusion as the pathways, to achieve the unity of qualitative state and business format, and realize the deep integration of technological innovation and industrial innovation."
Huang Qunhui mapped future industries, emerging industries, and traditional industries to different stages of innovation: future industries represent the process from 0 to 1, where the innovation quality is creative destruction and disruptive innovation; emerging industries represent the process from 1 to 10 after the 0-to-1 pathway has been opened up, belonging to creative accumulation with rapid scaling and commercialization; and the innovation quality of traditional industries is empowerment-oriented innovation through the application of new technologies and future technologies.
"For future industries, government funds need to invest as guidance, and after investing, at a certain stage, it must be guidance. The market entity is led by the capital market, so it can only be a guiding fund, and the scale must be moderate. For fund industries, government funds should invest to encourage rapid commercialization, but at a certain point they must also exit, to avoid 'involution-style' competition," he analyzed. A key crux of the current structural differentiation in the economy, he noted, is that "emerging industries have not deeply integrated with traditional industries to promote the transformation and upgrading of traditional industries, which means there are problems in the innovation ecosystem network and in technology transmission and collaboration."
Combining this with the practices of state-owned and state-invested enterprises, Huang Qunhui stated that for strategic emerging industries, central enterprises should play a key supporting and core role in the new type of nationwide system for tackling key generic technologies and core technologies for industrial scaling. At the same time, "the government should not only support strategic emerging industries, but when and how to exit in a timely manner at a certain stage is also crucial, to avoid overcapacity and excessive competition caused by policy reasons." For future industries, tolerance for trial and error is needed, cultivating more trial-and-error entities capable of carrying out disruptive innovation; traditional industries should rely on standards leadership to advance intelligent, green, and digital transformation.
He proposed encouraging large leading enterprises to open their innovation systems, supporting small and medium-sized enterprises in pursuing specialized, refined, distinctive, and innovative development paths, and ultimately forming a "collaborative innovation ecosystem of chain-leader enterprises plus specialized, refined, distinctive, and innovative enterprises."
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