【 Guangming Forum 】 Author: Luo Yu (Professor at the School of Finance and Economics of Renmin University of China and Deputy Director of the China Banking Research Center) recently held a Central Economic Work Conference, emphasizing that next year we must adhere to the principles of seeking progress while maintaining stability, promoting stability through progress, and implementing policies that are conducive to stabilizing expectations, growth, and employment. We should actively strive to transform methods, adjust structures, improve quality, and increase efficiency, and continuously consolidate the foundation of stability and improvement. The meeting put forward nine key work tasks and deployments, among which the first one is "leading the construction of a modern industrial system with scientific and technological innovation", providing direction guidance for promoting the implementation of the innovation driven development strategy, transforming the economic development mode, and enhancing the endogenous driving force of the economy. Technological innovation is the core, and once we seize it, we seize the "bull nose" that affects the overall development of our country. On the one hand, innovation will bring opportunities for growth and development; On the other hand, innovation may also face risks and challenges, and it is necessary to achieve a balance between the two major goals of development and stability. Taking technological innovation as the direction and driving force for progress, advancing through technological innovation, expanding the path of industrial innovation, actively advancing in mode transformation, structural adjustment, quality improvement, and efficiency enhancement, is conducive to injecting new momentum into stable economic growth and reshaping new advantages. Looking back at history, without significant technological innovations, there would have been no three industrial revolutions in modern human history and the enormous material achievements they created. The first two industrial revolutions lasted for about 70-80 years, while the third industrial revolution began around the 1950s and has been around for about 70 years. As the dividends of the Third Industrial Revolution gradually dissipate, the growth rate of the world economy slows down, and the creation of incremental wealth becomes more difficult, this is one of the deep-seated reasons for the intensification of contradictions and conflicts in the international community today. To solve the difficulties faced by the international community, development is the absolute principle, and human society looks forward to the arrival of a new round of industrial revolution. With the advantage of being a latecomer, China has completed the path that more than a dozen generations of people in the Western world have walked in just a few decades. In the context of the upcoming new round of industrial revolution, China is no longer a simple imitator and learner. It should and has the ability to serve as a leader and promoter, and will also make original and disruptive contributions in the field of global technological innovation. This meeting pointed out that we should promote industrial innovation through technological innovation, especially by using disruptive and cutting-edge technologies to give birth to new industries, new models, and new driving forces, and develop new quality productive forces. Essentially, new quality productivity is different from traditional productivity, involving new fields and high technological content. From an economic perspective, new productive forces are productive forces that play a leading role in technological innovation, and are also productive forces that break away from traditional growth paths and meet the requirements of high-quality development. In recent years, China has achieved new breakthroughs in scientific and technological innovation, and has made significant progress in areas such as aviation engines, gas turbines, and chips. New technological tracks such as artificial intelligence, quantum technology, and new energy are among the world's top tier. Supported by new technologies, China's industrial innovation highlights have emerged frequently, and significant progress has been made in the construction of a modern industrial system. In the future, the key to technological innovation in China