Current location:sport >>
R&D seen as key to success of private firms
sport677People have gathered around
IntroductionEnterprises in Shandong's Wucheng county seek innovation-driven growthAt an equipment production lin ...
Enterprises in Shandong's Wucheng county seek innovation-driven growth
At an equipment production line in Wucheng county of Dezhou, Shandong province, workers are busy producing specialized heat recovery ventilators for livestock farms.
Sun Dongbin, chairman of Wucheng-based Xingheng Environmental Technology Group Co, said that the ventilators, which have been developed independently by his company, can effectively prevent cold stress in livestock and poultry when there is a significant temperature difference between indoor and outdoor environments.
"More importantly, they save heating costs by 50 to 60 percent on average," Sun said, adding that the company has so far received orders for more than 1,000 units of such ventilators.
The result of the company's constant efforts to push forward research and development, the specialized heat recovery ventilators have filled a gap in the niche livestock farming sector in the country, he said.
The company has so far earned six national patents and has been selected for a provincial demonstration project. This year, the company also made it onto Shandong's list of gazelle companies, which refer to young, fast-growing and innovation-driven enterprises that are often found in the technology industry.
"For Chinese companies, especially private enterprises, lack of product originality and gradual loss of cost advantages were the biggest bottlenecks hindering their development on the global stage," Zhou Qiren, a professor at Peking University's National School of Development, said in an earlier interview.
"To gain an edge globally, Chinese companies should pour money into promoting originality and uniqueness of their businesses to earn extra profits and investment. They should invite the best minds in the world to make better products and innovate," Zhou said.
By consistently increasing investment in R&D and being more focused on specialized arenas, Xingheng is just one such private tech company in Wucheng, where innovation-driven growth has become a consensus among enterprises.
In 2022, Wucheng's R&D investment reached 641 million yuan ($89.86 million), accounting for 3.14 percent of its total investments. There are 101 major industrial enterprises engaged in R&D activities in the county, accounting for 61.96 percent of the total.
In addition, over 100 enterprises in the county have forged collaborative relationships with more than 50 renowned universities and research institutions, such as Tsinghua University and the University of Science and Technology Beijing.
As the growing momentum in R&D is expected to become a new engine for high-quality growth, the nation will further advance the development of elite small and medium-sized enterprises that specialize in niche markets, boast cutting-edge technologies and show great potential, according to the tone-setting Central Economic Work Conference, which was held earlier this month.
In China, such SMEs are mostly private enterprises.
"The Chinese economy will continue gathering momentum if the private sector, including smaller businesses, remains sound, given that many SMEs are being increasingly recognized for their role as leaders in new concepts and new business models," said Wang Peng, a senior researcher at the Beijing Academy of Social Sciences. Wang added that amid a global economic slowdown, supporting the private economy is important.
Song Xuetao, chief analyst at TF Securities, said that this year's economic conference intensified the emphasis on policy implementation in terms of support for the private sector, as it said a number of measures to further support and strengthen private enterprises will be carried out by the country, including better market access, access to factors of production, fair law enforcement, and protection of rights and interests.
Song Xiangqing, a professor of government management at Beijing Normal University, said: "The government wants to remove those barriers that hinder the development of private enterprises. The government also aims to enable private enterprises to participate in market competition at a higher level and in a larger field. It would activate the intrinsic ability of private enterprises to innovate and become more competitive on the global stage."
Wei Qijia, head of industrial economy research at the State Information Center, said: "Such an effort is important. It not only demonstrates the country's determination to support the development of the private sector, but also conveys a crucial signal to encourage, support and guide its development through tangible measures."
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Station news portal”。http://tonga.downmusic.org/html-50f999885.html
Related articles
Company wins court ruling to continue development of Michigan factory serving EV industry
sportGREEN TOWNSHIP, Mich. (AP) — A judge has ordered a Michigan community to stop blocking efforts to br ...
【sport】
Read moreTrump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
sportNEW YORK (AP) — Donald Trump said Friday his campaign has accepted an invitation from Fox News for h ...
【sport】
Read moreJon Wysocki dead at 53: Staind drummer passes away
sportThe music world is in mourning this Sunday, with word that original Staind drummer Jon Wysocki passi ...
【sport】
Read more
Popular articles
- What's next for Iran after death of its president in crash?
- Amtrak train hits pickup truck in upstate New York, 3 dead including child
- NBA playoffs: Edwards leads Wolves to 98
- Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
- Who is Jacob Zuma, the former South African president disqualified from next week's election?
- Target to lower prices on basic goods in response to inflation
Latest articles
I was 'brokefished' by my friend for £400
Cruise worker 'murders newborn son on board ship': Shocked co
Supreme Court rejects an appeal from a Canadian man once held at Guantanamo
Hall of Fame outfielder Ken Griffey Jr. to lead Indianapolis 500 field in Corvette pace car
Lynn Williams breaks NWSL goal
Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
LINKS
- Edward Olivares' grand slam and Mitch Keller's complete game lead Pirates over Angels 4
- Kyren Wilson wins world snooker championship for the first time after beating Jak Jones 18
- Suspect in custody after video recorded him appearing to steal a police vehicle amid gunfire
- Woman in Minnesota accused in the deaths of 2 children
- Donald Trump calls Joe Biden weak on antisemitism, ignoring his own rhetoric
- Paedophile hunter reveals he caught his wife's cousin trying to meet up with children online
- José Ramírez breaks Larry Doby’s team record for go
- Trump faces jail threat over gag order as prosecutors zero in on transactions at heart of the case
- Two suspects arrested in fatal shooting on Delaware college campus are not students, police say
- I'm jealous of my husband's dead ex