China Economic Roundtable: Focusing on Promoting the Development and Growth of the Private Economy

　　

What is the current development trend of the private economy?

What is the way out to solve challenges and contradictions?

How can private enterprises seize opportunities to grow and strengthen?

This is the recording site of the China Economic Roundtable. Xinhua News Agency reporter Chen Yehua took the photo.

 

　　Xinhua News Agency recently launched a new episode of the large-scale all-media interview program "China Economic Roundtable," inviting Wei Dong, Director of the Private Economy Development Bureau of the National Development and Reform Commission, Zhou Zhen, Chairman of Guangzhou Hexin Instrument Co., Ltd., Bai Jingwei, Co-founder of Chengdu Qitan Technology Co., Ltd., and Wei Chu, Vice Dean of the School of Applied Economics at Renmin University of China, to jointly offer suggestions for promoting the growth and strengthening of the private economy.

 

　　The Private Economy Development Bureau should be the "home" for private enterprises.

　　Contributing more than 50% of tax revenue, over 60% of GDP, and more than 80% of urban employment... accounting for half of the domestic GDP, the private economy, as an important force driving economic growth, has attracted much attention for its development trend this year.

　　According to the latest data from the National Bureau of Statistics, although private investment in the first three quarters declined by 0.6%, the decline narrowed by 0.1 percentage points compared to the first eight months. Private enterprises' import and export growth significantly exceeded the overall import and export growth rate, playing a role as a "stabilizer" in foreign trade.

　　"With the continuous recovery and improvement of China's macroeconomy, the development situation of the private economy shows marginal improvement. Among them, private investment in the secondary industry continues to warm up, the prosperity of small and medium-sized enterprises remains generally stable, and the operating conditions of individual businesses have also improved," Wei Dong commented during the "China Economic Roundtable" interview.

　　

This is Wei Dong, Director of the Private Economy Development Bureau of the National Development and Reform Commission. Xinhua News Agency reporter Chen Yehua took the photo.

 

　　Wei Dong also stated that there are still some difficulties and challenges in the current development of the private economy, which need to be continuously addressed in future work.

　　In July this year, the "Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Strengthening of the Private Economy" was issued. Recently, various relevant departments and regions have also introduced a series of policy measures to promote the development of the private economy. Among them, the news of the establishment of the Private Economy Development Bureau under the National Development and Reform Commission on September 4 attracted widespread attention.

　　What role will this new institution play?

　　Wei Dong explained the reason for the establishment of the new institution: General Secretary Xi Jinping emphasized at last year's Central Economic Work Conference that leaders at all levels should solve problems and do practical things for private enterprises. The establishment of the Private Economy Development Bureau is precisely to provide a guarantee for forming a unified approach to promoting the high-quality development of the private economy.

　　"The responsibilities of the Private Economy Development Bureau are summarized in 103 characters, with the keyword being 'service.' The bureau will always adhere to wholeheartedly serving the growth and strengthening of the private economy," Wei Dong emphasized. "We are the 'home' for private enterprises; we are one of them."

　　How do those served view this? Bai Jingwei said at the "China Economic Roundtable" that he often sees new national policies supporting private enterprise development online, but a lot of effort is needed to understand how to implement them, which departments to approach, and how to apply. "I understand that the establishment of this institution is to better connect and communicate with private enterprises."

　　"There are thousands of policies, but implementation is the first priority," Zhou Zhen said during the "China Economic Roundtable" interview, expressing a clear sense of the country's determination to ensure policies are accurately and quickly implemented at the enterprise level.

　　Wei Dong introduced that after the establishment of the Private Economy Development Bureau, it is accelerating the establishment and improvement of mechanisms to promote private economic development and regular communication with private enterprises. "We have organized multiple symposiums to listen face-to-face to the demands and opinions of private enterprise leaders and promote the resolution of difficulties."

　　Regarding the successive introduction and implementation of policies, Zhang Maozhong, Chairman of Anhui Zhongqi Oriental Technology Enterprise Accelerator Co., Ltd., said in an interview that a series of measures directly address the pain points and difficulties in private economic development, echoing the current expectations of private enterprises, which has greatly encouraged and inspired everyone.

　　

Workers are working in the production workshop of a refrigeration equipment company in Jinzhou City, Hebei Province (photo taken on September 19, 2023). Xinhua News Agency reporter Yang Shiyao took the photo.

 

　　In the future, private enterprises are expected to receive more favorable policies. Wei Dong introduced that the Private Economy Development Bureau is establishing a monitoring indicator system for the development situation of the private economy, closely monitoring and promptly promoting the resolution of major emerging and tendency issues. At the same time, it is organizing major research projects on optimizing the development environment of the private economy during the "14th Five-Year Plan" period, continuously providing good services for private economic development.

 

　　Promoting the growth and strengthening of the private economy requires gathering efforts from all sides.

　　To promote the growth and strengthening of the private economy, the urgent task is to effectively solve the difficult, painful, and blocked problems hindering development.

　　According to Wei Chu, the difficulties faced by private enterprises are mainly reflected in three aspects: first, insufficient guarantee of production factors, such as high financial pressure, a large gap in senior talent, and low breadth and depth in the application of data elements; second, technical innovation shortcomings, with weak basic research "from 0 to 1" and room for improvement in application transformation "from 1 to N"; third, the institutional environment needs improvement, including market access barriers, unfair competition, and selective law enforcement.

　　

This is Wei Chu, Vice Dean of the School of Applied Economics at Renmin University of China. Xinhua News Agency reporter Chen Yehua took the photo.

 

　　Zhou Zhen deeply feels the talent gap: "High-end scientific instrument R&D requires large investment and long cycles, and the most lacking is top-tier talent."

　　How to ensure policies are truly implemented effectively and benefit enterprises?

　　Wei Chu believes that the development difficulties faced by private enterprises are related to the combined impact of a series of internal and external factors. Promoting the growth and strengthening of the private economy is a systematic project that requires coordination among departments and regions, effective combinations of different policies, and avoiding a "one-size-fits-all" approach.

　　After the central opinions were issued, to ensure implementation, the National Development and Reform Commission and relevant departments specially issued the "Notice on Implementing Several Recent Measures to Promote the Development of the Private Economy."

　　"In terms of refining and implementing measures, we have assigned specific responsibilities, clarified 'who will do it,' and 'who to contact' when private enterprises encounter problems," Wei Dong introduced. Some measures are very specific, such as directly granting strong large-scale private enterprises the authority to evaluate professional titles. Local governments' support for private economic development is also included in the State Council's annual comprehensive inspection to better motivate local support for private economic development.

　　Bai Jingwei said that granting the authority to evaluate professional titles has a great incentive effect on cultivating innovative talents in private enterprises and can better stimulate the enthusiasm of professional technical teams.

　　With policy strengthening, enterprises are also actively seeking ways to break through.

　　In Yiwu City, Zhejiang Province, home to the world's largest small commodity market, reporters found that facing challenges, local private enterprises are responding by increasing innovation, reshaping customer loyalty with cost-effective and high-quality products, and winning more trade orders.

　　

At the Hong'ao all-aluminum body integrated production workshop of Weiqiao Lightweight Base in Zouping, Shandong, industrial robots operate on the assembly line (photo taken on September 13, 2023). Xinhua News Agency reporter Guo Xulei photographed.

 

　　Zhi Jianjuan, General Manager of Zhejiang Yanxue Cosmetics Co., Ltd., told reporters that the company has invested a large amount of funds to establish a design team and set up many agents in South America to design more products that suit local styles, continuously improving product quality and competitiveness.

　　Private enterprises also have more expectations for policy implementation. A recent survey report by the All-China Federation of Industry and Commerce mentioned four new hopes of private enterprises: first, fairer market access; second, more effective policy implementation; third, stronger property rights protection; and fourth, a friendlier public opinion environment.

　　Wei Dong stated that the next step will be to build six major service platforms around policy, communication, cooperation, monitoring, evaluation, and publicity, conduct pre-assessments of policies promoting private economic development, regularly listen to the thoughts and expectations of all sectors on private economic development, promptly track, understand, and statistically analyze the development status of the private economy, ensuring the effectiveness of all policies.

 

　　Firm confidence in achieving high-quality development goals and growing stronger.

　　The private economy is a vital force in advancing Chinese-style modernization, an important foundation for high-quality development, and a key power in promoting China to fully build a socialist modern country and achieve the second centenary goal.

　　Officials, experts, and enterprise representatives participating in the "China Economic Roundtable" interview unanimously believe that the private economy is indispensable to China's economy. Promoting Chinese-style modernization through high-quality development will provide valuable opportunities and a broad stage for the growth of China's private economy.

　　Zong Qinghou, founder of Wahaha Group, who participated in the roundtable via video, revealed to reporters that the Wahaha Group, with a history of more than 30 years, will focus on the big health industry.

　　It is reported that since 2010, Wahaha has been engaged in the research and development and industrial project layout of probiotics, hoping to develop proprietary strains. In 2017, the commissioning of the strain workshop transformed Wahaha from "Made in China" to "Intelligently Made in China," enhancing the company's endogenous development momentum.

　　"The private economy is fully capable of seizing new opportunities arising from the global industrial structure and layout adjustments by adhering to its main business, strengthening the real economy, innovating in transformation, and following the path of high-quality development," said Wei Dong.

　　Seizing new development opportunities also depends crucially on innovation.

　　

At the analysis and testing center of Jiangfeng Electronic Materials Co., Ltd. in Ningbo, Zhejiang, industrial robots process chip targets on an automated production line (photo taken on March 21, 2023). Xinhua News Agency reporter Weng Xinyang photographed.

 

　　Statistics show that private enterprises are important entities in technological innovation, contributing more than 70% of technological innovation achievements and accounting for over 80% of national-level specialized and innovative "little giant" enterprises.

　　"More specialized, refined, distinctive, and innovative enterprises have emerged among private enterprises, which is an inevitable path toward high-quality development and a necessary result of promoting the construction of a new development pattern," said Wei Chu.

　　Private enterprises have deeply felt the "era dividend" brought by technological innovation. The 2023 China Private Enterprise 500 Research and Analysis Report shows that nearly 70% of the top 500 surveyed enterprises believe that under the new development pattern, enterprises will usher in new opportunities brought by technological innovation.

　　Wei Dong introduced that to encourage private enterprise innovation, the national level has clarified major scientific and technological research areas that private enterprises can lead, including industrial software, cloud computing, artificial intelligence, industrial internet, gene and cell therapy, and new energy storage.

　　

This is Bai Jingwei, co-founder of Chengdu Qitan Technology Co., Ltd. Xinhua News Agency reporter Chen Yehua photographed.

 

　　"Gene and cell therapy being listed as scientific and technological research areas that private enterprises can lead encourages us greatly," said Bai Jingwei. "This is the country's recognition of our private enterprises' scientific research capabilities and gives us more confidence to refine and perfect products in the new gene sequencing track, driving the development of the entire industry chain."

　　Innovation is not easy; it requires maintaining composure amid great changes and storms.

　　"Innovation risks are everywhere; maintaining composure requires ideals and a spirit of dedication. We firmly believe that small and medium-sized enterprises can accomplish great things," said Zhou Zhen. Mass spectrometry instruments have developed abroad for 80 years, but only 20 years in China, yet the company is confident in catching up with international advanced levels.

　　

This is Zhou Zhen, chairman of Guangzhou Hexin Instrument Co., Ltd. Xinhua News Agency reporter Chen Yehua photographed.

 

　　Wei Chu believes that against the backdrop of weak global economic recovery, China's economy is still in a stage of restorative growth, and boosting confidence in private economic development also requires a recovery process.

　　Zong Qinghou, a representative of the older generation of entrepreneurs who have experienced several economic cycles since reform and opening up, is full of expectations for the new generation of entrepreneurs. He believes entrepreneurs should have innovative spirit and social responsibility, proceed steadily and pragmatically, and "only by adhering to the correct direction can they overcome numerous difficulties and challenges in development and achieve success."

　　On the new journey of promoting Chinese-style modernization, the private economy can only grow stronger, not weaken. With government efforts, enterprise endeavors, and joint cooperation, the private economy will surely open up a broader stage and create a brighter future through high-quality development.

 

　　Appendix: More articles from Xinhua News Agency

 

　　China Economic Roundtable—What signal does China send by establishing the Private Economy Development Bureau?

　　Beijing, Xinhua News Agency, November 13 — Establish and improve the monitoring indicator system for the development situation of the private economy, closely monitor and promptly promote the resolution of major emerging and tendency issues; establish a service system to support private enterprises in enhancing international competitiveness; organize major research projects on optimizing the private economic development environment during the 15th Five-Year Plan period...

　　In the new episode of the large-scale all-media interview program "China Economic Roundtable" launched by Xinhua News Agency on the 13th, Wei Dong, director of the Private Economy Development Bureau of the National Development and Reform Commission, introduced the above policy trends supporting private economic development.

　　In July this year, the "Opinions of the CPC Central Committee and the State Council on Promoting the Development and Growth of the Private Economy" was issued. Subsequently, the Central Organization Department officially approved the establishment of the Private Economy Development Bureau within the National Development and Reform Commission.

　　It is reported that as a specialized working agency to promote the development and growth of the private economy, the Private Economy Development Bureau aims to strengthen policy coordination in related fields and promote the early implementation and effectiveness of major measures.

　　The private economy contributes more than 50% of China's tax revenue, over 60% of GDP, more than 70% of technological innovation achievements, over 80% of urban employment, and more than 90% of the number of enterprises. "Crucial and indispensable," Wei Dong commented on the importance of the private economy in the national economy.

　　Private economy work involves a wide range, broad industries, long policy chains, and many work links. Promoting the healthy and high-quality development of the private economy requires cooperation from all parties to form a joint effort.

　　Officials, entrepreneurs, and experts participating in the "China Economic Roundtable" believe that the central government's decision to establish the Private Economy Development Bureau within the macro-control and comprehensive economic departments provides strong organizational support for promoting the high-quality development of the private economy and forming a unified approach to work.

　　It is reported that the Private Economy Development Bureau will track, understand, and analyze the development status of the private economy, coordinate and organize the formulation of policies and measures to promote the development of the private economy, and draft policies to encourage private investment. At the same time, it will establish a regular communication mechanism with private enterprises, coordinate the resolution of major issues in private economic development, and support the enhancement of the international competitiveness of the private economy.

　　The establishment of this new institution in China sends a clear signal of stronger efforts to promote the growth and development of the private economy.

　　Currently, affected by global economic fluctuations and a more complex and severe external environment, Chinese private enterprises face some difficulties and challenges in their development.

　　Since the beginning of this year, China has introduced a series of policies to support the development of the private economy. With the continuous release of favorable policies and the sustained recovery of the macroeconomy, the Chinese private economy is showing positive signs of marginal improvement.

　　"The private economy is the explorer of our economy's high-quality development and will become the leader of innovative development and a vital force in the construction of Chinese-style modernization in the future," said Wei Chu, Deputy Dean of the School of Applied Economics at Renmin University of China, at the "China Economic Roundtable."

　　

In the hot pressing workshop of a machinery equipment manufacturing enterprise located in the Liangjiang New Area of Chongqing, workers are packing parts that have just come off the production line (photographed on July 16, 2023). Photo by Xinhua News Agency reporter Chu Jiayin.

 

　　In the first three quarters of this year, although private investment in China fell by 0.6%, the decline narrowed by 0.1 percentage points compared to the first eight months, initially reversing the trend of continuous decline in cumulative growth since the beginning of the year. The growth rate of private investment in the secondary industry further accelerated by 0.5 percentage points from the relatively high level of 9% in the first eight months, exceeding the overall secondary industry investment growth rate by 0.5 percentage points, demonstrating strong vitality and resilience in private investment.

　　To promote the high-quality development of the private economy, relevant Chinese departments have introduced a series of specific measures, such as directly granting large-scale private enterprises with strong capabilities the authority to independently evaluate professional titles. It is reported that local governments' support for private economic development will be included in the State Council's annual comprehensive inspection, and regions that perform well may receive rewards to motivate local support for private economic development.

　　"For 'post-80s' like us, what we need most is the spirit of innovation and craftsmanship," said Bai Jingwei, co-founder of Chengdu Qitan Technology Co., Ltd., who participated in the "China Economic Roundtable." He believes that specific government measures encouraging technological innovation have a significant impact on researchers.

　　The consensus among guests participating in the "China Economic Roundtable" is that the fundamental trend of China's long-term economic improvement remains unchanged, and the private economy, as a vital force driving Chinese-style modernization, also maintains its long-term positive trend.

　　Wei Dong stated that efforts will be made to implement equal treatment of private enterprises in terms of systems and laws, actively expand space for the high-quality development of the private economy, and build service platforms for policies, communication, cooperation, monitoring, and evaluation to ensure the effectiveness of various policies.

　　"Wholeheartedly serving the development and growth of the private economy, solving problems one by one, and handling matters one after another — this is the responsibility of the Private Economy Development Bureau," said Wei Dong.

 

　　China Economic Roundtable — National Development and Reform Commission Private Economy Development Bureau: Building Six Platforms to Serve Private Economic Development

　　Beijing, November 13 (Xinhua) — Wei Dong, Director of the Private Economy Development Bureau of the National Development and Reform Commission, said in the large-scale all-media interview program "China Economic Roundtable" launched by Xinhua on the 13th, that six platforms will be built around policy, communication, cooperation, monitoring, evaluation, and publicity to provide high-quality services for private enterprises and actively expand space for the high-quality development of the private economy.

　　Wei Dong specifically introduced: first, the policy service platform, which conducts pre-assessments of policies promoting private economic development to enhance their foresight, relevance, precision, and effectiveness. Second, the communication service platform, which, based on existing communication with private enterprises, will open a special column on the National Development and Reform Commission's portal website to regularly listen to various parties' thoughts and expectations on private economic development. Third, the cooperation service platform, which coordinates services for private economy participation in international exchanges and cooperation, helping private enterprises enhance international competitiveness. Fourth, the monitoring service platform, which establishes and improves an indicator system for monitoring the development situation of the private economy, timely tracking, understanding, and statistically analyzing the development status of the private economy. Fifth, the evaluation service platform, which improves the evaluation and supervision system for the implementation of private economic development policies to ensure the effectiveness of all policies. Sixth, the publicity service platform.

　　Since the beginning of this year, policies to promote the growth and development of the private economy have been introduced one after another. With the implementation and refinement of these policy measures, positive changes have appeared in private economic development.

　　Wei Dong introduced that the development situation of the private economy shows marginal improvement, prominently reflected in the continuous warming of private investment growth in the secondary industry, overall stability in the industrial growth rate of private enterprises, and significantly better import and export growth rates of private enterprises compared to the overall level.

　　"There are still some difficulties and challenges in the current development of the private economy that need to be continuously addressed in future work," Wei Dong also said. Against the backdrop of a weak global economic recovery, China's economy is still in a stage of restorative growth, and boosting confidence in private economic development also requires a recovery process.

　　Not long ago, the news of the establishment of the Private Economy Development Bureau by the National Development and Reform Commission attracted widespread attention once it was released.

　　Wei Dong said that the Private Economy Development Bureau will always adhere to wholeheartedly serving the growth and development of the private economy. After its establishment, it will accelerate the establishment and improvement of mechanisms to promote private economic development and regular communication mechanisms with private enterprises. "We have organized multiple symposiums to listen face-to-face to the demands and opinions of private enterprise leaders and promote the resolution of difficulties."

　　In the future, the private economy is expected to receive more favorable policies. Wei Dong introduced that the Private Economy Development Bureau will closely track the development situation of the private economy, pay close attention to and promptly promote the resolution of major emerging and trending issues. At the same time, it is organizing major research projects on optimizing the private economic development environment during the "14th Five-Year Plan" period, continuously providing good services for private economic development.

 

　　China Economic Roundtable — Chinese-style Modernization Provides Four Major Opportunities for the Private Economy

　　Beijing, November 13 (Xinhua) — Officials from the National Development and Reform Commission said in the new episode of the "China Economic Roundtable" interview program launched by Xinhua on the 13th that Chinese-style modernization provides four major opportunities for the development of the private economy.

　　Wei Dong, Director of the Private Economy Development Bureau of the National Development and Reform Commission, believes that the private economy faces the opportunities of China's long-term economic improvement, the promotion of Chinese-style modernization through high-quality development, the historic opportunity to realize the great rejuvenation of the Chinese nation, and opportunities in building a community with a shared future for mankind and firmly safeguarding world peace and development.

　　China has enormous development resilience, potential, and room for maneuver, a huge domestic demand market, and a vast number of hardworking and intelligent workers and entrepreneurs. It is still in the stage of synchronous development of new industrialization, informatization, urbanization, and agricultural modernization.

　　The fundamental trend of China's long-term economic improvement has not changed. "The private economy, as a vital force driving Chinese-style modernization, maintains an even more unchanging long-term positive trend," said Wei Dong.

　　Currently, the global innovation chain, industrial chain, and supply chain are undergoing deep adjustments, coinciding historically with China's promotion of high-quality development. Wei Dong believes that private enterprises are fully capable of seizing new opportunities emerging from the global industrial structure and layout adjustments by transforming development methods, adjusting industrial structures, shifting growth drivers, adhering to their main business, strengthening real industries, and pursuing a path of high-quality development.

　　Wei Dong said that the "Opinions of the CPC Central Committee and the State Council on Promoting the Development and Growth of the Private Economy" reflects a clear signal to promote the development and growth of the private economy, stating that "the private economy will surely take on greater missions, bear heavier responsibilities, and play a greater role in the historical process of the great rejuvenation of the Chinese nation."

　　Not long ago, China approved the establishment of the Private Economy Development Bureau within the National Development and Reform Commission as a specialized agency to promote the development and growth of the private economy, strengthen policy coordination, and accelerate the implementation and effectiveness of major initiatives.

　　It is reported that China will provide connection channels and display platforms to further strengthen international exchanges and cooperation for private enterprises. Wei Dong cited the joint construction of the "Belt and Road" initiative as an example, pointing out that promoting the building of a community with a shared future for mankind and firmly safeguarding world peace and development also bring opportunities for private enterprises.

 

　　China Economic Roundtable — Zong Qinghou: The high-quality development of private enterprises cannot be separated from the support of entrepreneurial spirit.

　　Xinhua News Agency, Beijing, November 13 — Since the beginning of this year, the state has introduced a series of policies to support the high-quality development of private enterprises. Zong Qinghou, founder of Hangzhou Wahaha Group Co., Ltd., said in a video interview with the "China Economic Roundtable" that the Party and the state have always attached great importance to the private economy, and the high-quality development of private enterprises cannot be separated from the support of entrepreneurial spirit.

　　Since its establishment in 1987, Hangzhou Wahaha Group Co., Ltd. has experienced several economic cycles of reform and opening up. Nearly eighty-year-old Zong Qinghou said, "China is already a market economy; the so-called conflict between planning and market no longer exists. The opportunities and challenges for enterprise development mainly come from the market."

　　Zong Qinghou straightforwardly said that from his observation, the situation in the first half of this year was not oversupply but insufficient demand. Like everyone else, Wahaha Group also faces the same challenges.

　　Zong Qinghou introduced that since the beginning of this year, Wahaha Group has actively taken measures to strengthen efforts in marketing and backend research and development. "The state has introduced multiple specific measures to support the private economy and enterprises, boosting enterprise confidence. Now, these measures are gradually showing results, and the overall operation of the enterprise is currently good."

　　Regarding the establishment of the Private Economy Development Bureau under the National Development and Reform Commission, Zong Qinghou expressed welcome. "The state has always attached great importance to the development of the private economy and the growth of private enterprises," Zong Qinghou said. "The establishment of a specialized agency directly connecting with private enterprises within the National Development and Reform Commission directly reflects the Party and government's unwavering support for the development of the private economy. I hope the Private Economy Development Bureau will accelerate coordination of support policies from various departments, speed up the formation of policy synergy, and further implement and achieve results."

　　This year marks the 45th anniversary of reform and opening up. With over 30 years of history, Wahaha Group has witnessed the historic development opportunities brought to private enterprises by China's reform and opening up. Zong Qinghou firmly said that direction determines the future, and the path of high-quality development for private enterprises cannot be separated from the Party's leadership. "Adhering to following the Party is a matter of direction. As long as the direction is correct, enterprises will have great opportunities and achieve great development."

　　The pursuit of high-quality development by private enterprises cannot be separated from the support of entrepreneurial spirit.

　　"If we want to build a century-old brand, we must keep up with the times and innovate to achieve sustainable success," Zong Qinghou said. Innovation spirit is an important part of entrepreneurial spirit, and only by innovating for development can one seize the "dividends of the times."

　　Wahaha Nutritional Liquid was the first product of Wahaha Group. Zong Qinghou revealed that Wahaha Group will implement a "big health" strategy, "Now we will resume production of Wahaha Nutritional Liquid, shifting the product focus from safety alone to emphasizing both safety and health."

　　Innovation spirit alone is not enough to pursue a path of high-quality development. In Zong Qinghou's view, entrepreneurs should also be down-to-earth and work steadily step by step.

　　Zong Qinghou introduced that over the past decade, Wahaha Group has vigorously promoted independent equipment research and development and continuously improved intelligent manufacturing levels. It has also established the development of high-end electromechanical equipment manufacturing as a new industrial development direction, especially in the robotics industry, forming Wahaha Precision Machinery Co., Ltd. and the Electromechanical Research Institute, dedicated to the development of high-end equipment technology and industrial expansion.

　　"Social responsibility and corporate commitment should be one of the basic connotations of entrepreneurial spirit," Zong Qinghou said. Enterprise development cannot be separated from social development and the support of the people. "It is both a duty and a responsibility for enterprises to give back to society."