Zheng Zhajie: Three key areas will be focused on for high-growth industries.

On March 6th, at the economic theme press conference of the Fourth Session of the 14th National People's Congress, Zheng Zhajie, Director of the National Development and Reform Commission, stated that in terms of existing industries, we will continue to expand and strengthen traditional industries, promote the quality upgrading of key industries, and it is estimated that in the next 5 years, traditional industries will add more than 10 trillion RMB to the market, which is also an important source of development momentum. Next, we will focus on three aspects for high-growth industries. Firstly, highlight long-term layout. This long-term layout has a far-sighted view and is considered in conjunction with the construction of Chinese-style modernization. In areas such as integrated circuits, satellite internet, domestically made large aircraft, and a national integrated computing power network, we will build a number of long-chain, large-scale major projects with investment scales in the hundreds of billions or even trillions, forging a number of foundational and long-term "national treasures". Secondly, highlight factor protection. Last year, on March 6th as well, I introduced to you the National Venture Capital Guidance Fund. We, together with the Ministry of Finance, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and other departments, have vigorously promoted this in Beijing, Shanghai, Guangdong, and other places. Currently, the national venture capital guidance fund and three regional funds have all started operations, benefiting a large number of start-up companies in various fields. This year, as I just mentioned, we will establish a national-level mergers and acquisitions fund to address the "difficulties in exiting" issue in venture capital investment; at the same time, we will support mergers and reorganizations to address the issue of internal repetitive competition. Finally, highlight reform coordination. We will focus on both "hard investment" in project funds and "soft construction" of institutional mechanisms. For example, we will promote intangible assets such as software development and data processing to be "accounted for" and "realized", better reflecting intellectual value and forming positive incentives. For example, scenes are the crucial link from technological breakthroughs to industrial applications, we will intensify reform efforts, implement large-scale application demonstrations of new technologies, products, and scenes, and this year introduce about 10 key comprehensive open scenes at the national level in areas such as modern agriculture and elderly care services, identify around 100 emblematic scene projects with leading roles, and promote industrial innovation and development.