Innovation-driven transformation into a “manufacturing Powerhouse”
The value added of China’s manufacturing sector accounted for nearly 30% of the world’s total in 2022, ranking first in the world for 13 years in a row and consolidating China’s position as the world’s largest manufacturer, according to data released by the Ministry of Industry and Information Technology. After years of sustained and rapid growth, China’s manufacturing industry has made remarkable achievements in total volume growth, structural upgrading, route transformation, and opening up and cooperation. Moving the manufacturing industry upmarket is an urgent need to build competitive advantages as a major country and a strategic choice to achieve high-quality economic development.
On the evening of May 19 and May 21, the first batch of listed companies on the Science and Technology Innovation Board, China Communications, voluntarily disclosed the announcement of winning the bid for important projects in the rail transit market and the announcement of some of the scientific research achievements winning important awards. The announcement of winning the bid shows that the company has recently won three important projects, including one in the railway market and two in the urban rail transit market, with a total bid amount of 1.239 billion yuan. Award announcement shows that from January to April 2023, the company has won the silver Award of China Patent Award of the State Intellectual Property Office, the first prize of Science and Technology Award of China Railway Society, and the first and second prize of Science and Technology Award of China Communications and Transport Association. Shanghai Association for the Promotion of Scientific and Technological Achievements, Shanghai Education Development Foundation, Shanghai Association for Science and Technology, Shanghai Industry-University-Research Cooperation Outstanding Project Grand Prize and other important awards in the field of rail transit.
The relevant person in charge of the company said that the above awards, mainly due to the company’s advanced comprehensive research and development strength and technological innovation ability, further consolidated the company’s leading position in the industry, the promotion and application of research and development results will have a positive role.
Industry insiders said, as the rail transit control system leader, the two announcements of China Express fully highlight its “hard technology” strength and leading position in the field of advanced rail transit, the company is the first to benefit from the demand end of the boom, and has a say in the establishment of industry technical standards, etc. It is also an epitome of the innovation-driven industrial transformation and upgrading of Science and Technology innovation board companies under the new development pattern. According to statistics, a total of 90 companies on the Science and Innovation Board have led or participated in projects that have won major awards such as the National Science and Technology Awards, showing the board’s role as a fresh force in implementing the strategy of “manufacturing power”.
Capital helps the high-quality development of manufacturing
The launch of the Science and Technology Innovation Board is a product of the historical transformation of China’s economic momentum, and shoulders the mission of leading the transformation of economic development to an innovation-driven economy. Since the opening of the Science and Technology Innovation Board, adhering to the “hard technology” plate positioning, expanding the direct financing support for “hard technology” enterprises, and continuously improving the capital market to serve the real economy and science and technology self-reliance, has become the first choice for the listing of “hard technology” enterprises.
Data show that after nearly four years of development, more than 500 companies listed on the Science and Technology Innovation Board, IPO raised more than 700 billion yuan, operating revenue, net profit, research and development investment exceeded 1 trillion yuan, 100 billion yuan, 100 billion yuan, the compound growth rate of operating revenue and net profit in the past three years reached 29%, 56%, ranking first among A-share sectors.
On the way to promote the development of high quality of manufacturing industry in our country, the innovation board supports a large number of benchmarking enterprises with key core technologies and industry demonstration effect as well as specialized new enterprises in the field of industrial chain “stuck” to come on the market in succession. It provides strong support for the growth of manufacturing enterprises and becomes the “booster” for the development of high quality of industrial chain.
The central state-owned enterprises on the Science and Innovation Board played a leading role in demonstrating and advancing the industrial development to the high-end. Ten state-owned enterprises in the manufacturing industry of the Science and Innovation board, including Time Electric, Zhongfu Shenying and Xinfengsheng, were selected into the “double demonstration” list of enterprises to create world-class demonstration enterprises and specialized and innovative demonstration enterprises. Covering advanced rail transit, new energy power equipment, key strategic materials and other manufacturing segments of the leader. The “double demonstration” enterprises gave full play to the role of “spearheading”, and achieved a total operating revenue of 49 billion yuan and a net profit of 5.495 billion yuan in 2022, with year-on-year increases of 17% and 46%.
At the same time, the Science and Innovation Board continues to build a matrix of “little giants” to support specialized and innovative enterprises to speed up breakthroughs in areas of weakness and grow bigger and stronger in areas of strength. Up to now, a total of 256 companies on the Science and Innovation Board have been listed in the list of state-level specialized and special “Little Giant” enterprises, 35 companies on the Science and Innovation Board have been rated as “Single champion demonstration enterprises” in the manufacturing industry, and 35 companies on the Science and Innovation Board have been rated as “single champion products”, accounting for 55% of the total number of listed companies on the Science and Innovation Board. The revenue scale of the above enterprises increased rapidly in 2022, with a total operating revenue of 713.754 billion yuan, up 35% year-on-year; The net profit of 48 companies increased by more than 50%.