How can central enterprises develop new quality productivity? "Innovation should be placed in a prominent position, and innovation and quality are of utmost importance," said Zhang Yuzhuo, Secretary and Director of the State owned Assets Supervision and Administration Commission of the State Council. Recently, the State owned Assets Supervision and Administration Commission of the State Council held an on-site promotion meeting for the deepening and improvement of state-owned enterprise reform, outlining the key points for central enterprises to develop new quality productivity. "Upholding the sky and standing on the ground", solving the problem of technological origin, domestically produced large aircraft, domestically produced large cruise ships, aviation engines, gas turbines, fourth generation nuclear power technology... These major technological achievements come from central enterprises and are also the result of their long-term layout and continuous investment. The relevant person in charge of the State owned Assets Supervision and Administration Commission of the State Council has made it clear that in the future, we will further strengthen independent innovation and increase investment. In 2023, the national R&D investment was 3.3 trillion yuan, of which central enterprises invested 1.06 trillion yuan, nearly one-third of the national total. "For central enterprises, we need to achieve 'standing up to the sky and the earth'." Zhang Yuzhuo said that in terms of 'standing up to the sky', central enterprises do a relatively good job, with a large number of scientific engineering and large scientific research achievements coming from central enterprises. But there is still a considerable gap in terms of "site", especially in terms of underlying technology and root technology. In 2023, central enterprises will invest 60 billion yuan in applied basic research, accounting for nearly 6% of their R&D investment. The State owned Assets Supervision and Administration Commission of the State Council encourages central enterprises to further increase their efforts in basic research and applied basic research, especially increasing investment in goal oriented basic research. At the on-site promotion meeting for deepening and enhancing the reform of state-owned enterprises, the State owned Assets Supervision and Administration Commission of the State Council further clarified the need to establish a medium to long-term assessment and differentiated support system for basic research and forward-looking disruptive research. We should increase incentives for innovative backbone personnel with clear guidance, prioritize the increase in total salary for scientific and technological talents who have made contributions, and implement a separate column for the total salary of scientific research teams undertaking major national scientific and technological projects. Regarding the source of technology, the State owned Assets Supervision and Administration Commission of the State Council emphasizes that central enterprises should adhere to open innovation and integrate into the global innovation network, and cannot close their doors. At present, state-owned enterprises have a total of 330 research and development centers abroad. In the future, they will also establish cooperative relationships with domestic research institutions, universities, leading private enterprises, and innovative private enterprises to solve the technical source problems of new quality productivity through innovation. "Central enterprises have great potential in technological innovation." Zhang Chi, Associate Researcher at the Institute of Economics, Chinese Academy of Social Sciences, believes that many central enterprises have a long-term technological foundation and accumulation in specific fields, and their technological research and development are constantly advancing. In the future, central enterprises will further increase their basic research and disruptive innovation research, carry out more key and common technology breakthroughs, which is conducive to continuously promoting new industries, new models, and new driving forces, and accelerating the development of new quality productivity. By leveraging its advantages in cloud network integration, China Telecom has built the world's largest, most widely used, and most comprehensive quantum metropolitan area network, with efforts from both ends to promote industrial development and upgrading; Guotou has invested and participated in a number of unicorn companies such as Yuexin Semiconductor through "controlling direct investment+fund investment"; Anhui is exploring investment models led by state-owned assets to promote the agglomeration and development of strategic emerging industries such as integrated circuits; Beijing is building three "billion level" industrial clusters, including electronic information, automobiles, and energy conservation and environmental protection... A group of state-owned and central enterprises are deeply laying out in the industry, and the results are beginning to show. The State owned Assets Supervision and Administration Commission of the State Council has proposed that central enterprises should adhere to the "dual ends" of strategic emerging industries and traditional industries, and play a leading and supporting role in the development of new quality productive forces. On the one hand, we need to prioritize the development of strategic emerging industries and future industries. In 2023, the investment in strategic emerging industries by central enterprises increased by 32.1% year-on-year. According to the requirements of the State owned Assets Supervision and Administration Commission of the State Council, this proportion is expected to reach 35% by 2025. In areas such as neuromorphic intelligence, quantum information, and controllable nuclear fusion, it is necessary to advance the layout. On the other hand, central enterprises have more traditional industrial layouts and need to use new technologies for high-end, intelligent, and green transformation to improve efficiency. At present, there have been many landmark achievements in this area. Central enterprises have built more than 100 intelligent factories and launched the "Artificial Intelligence+" initiative, such as achieving automated, unmanned, and intelligent operations underground in coal mines. With the help of artificial intelligence and big models, many traditional industries are becoming "smarter" and "smarter". "To develop strategic emerging industries and promote the transformation and upgrading of traditional industries, we need to have both a sense of urgency and a clear understanding that it is impossible to achieve them overnight." Wang Hongzhi, member of the Party Committee and Deputy Director of the State owned Assets Supervision and Administration Commission of the State Council, said. At present, many central enterprises are gathering advantageous resources to develop strategic emerging industries. The State owned Assets Supervision and Administration Commission of the State Council has made it clear that, on the basis of identifying the entry points for industries based on actual conditions, we must adhere to the principles of progress and retreat, and adjust the structure. By activating inefficient and ineffective assets, idle land, and other means, we can free up resource space to develop strategic emerging industries. At the same time, we encourage central enterprises to make good use of leverage, leverage more social capital for coordinated development, and flexibly use methods such as mergers and acquisitions, listing financing, industry collaboration, and joint research to develop strategic emerging industries. It is worth mentioning that central enterprises play a significant role in promoting industrial upgrading and development. In 2023, the procurement volume of central enterprises reached 13 trillion yuan, directly driving 2 million households in the upstream and downstream of the industrial chain and large, medium and small enterprises through procurement. Recently, the State owned Assets Supervision and Administration Commission of the State Council launched the Action Plan for Industrial Chain Integration and Development, released over 1000 lists, and established deep cooperation relationships with more than 5000 enterprises. Central enterprises that make efforts at both ends are also expected to drive a group of upstream and downstream enterprises to upgrade and develop. Improve mechanisms, give full play to the leading role of scientific and technological innovation, and place innovation in a prominent position. There should also be an inclusive and encouraging environment for innovation. The State owned Assets Supervision and Administration Commission of the State Council stated that it will further improve the system and mechanism of scientific and technological innovation in state-owned enterprises, and break through the bottlenecks in the development of new quality productive forces. Some enterprises are promoting the integration of innovation chain, industrial chain, capital chain, and talent chain, fully leveraging the leading role of technological innovation in the development of new quality productivity. Dongfang Electric Group has established a "scientific research coordination organization" to achieve the coordination of scientific research projects, resources, and talents on the basis of clear responsibilities and powers; China CRRC Group strengthens internal and external cross enterprise and cross domain joint research and development by establishing a joint research and development team, establishing a collaborative research and development mechanism, and issuing special rewards; China Minmetals has established a "Virtual Central Research Institute" in accordance with the concept of "unchanged system and changed mechanism", effectively integrating innovative resources of member units. Do central state-owned enterprises have a common "problem-solving approach" to their innovation ecosystem due to their different industries and development levels? "From practical experience, tackling challenges from four aspects: internal and external systems, assessment and incentives, tolerance for failure, and application scenarios is an important aspect of improving the system and mechanism of scientific and technological innovation and building a good innovation ecosystem." Wang Hongzhi said. In terms of assessment and incentives, the State owned Assets Supervision and Administration Commission of the State Council is taking the lead in innovation and demonstration. For example, in the field of new energy vehicles, the development of state-owned automobile enterprises is not fast enough. However, if a company invests heavily in new energy vehicles at the beginning, it is not conducive to the company's full promotion if the current profit is assessed. To this end, the State owned Assets Supervision and Administration Commission of the State Council has adjusted its policies and conducted separate assessments on the new energy vehicle business of three central automobile enterprises, assessing their technology, market share, and future development, in order to remove the institutional obstacles that restrict their development. In terms of application scenarios, state-owned and central enterprises are actively promoting the application of the "three firsts". State owned enterprises should take the lead in prioritizing the use of independent innovation achievements such as the first set of equipment, the first batch of materials, and the first version of software, and actively provide application scenarios and trial environments. At present, at least 66 central enterprises have established the "three first" procurement green channels. "Enterprises that have not yet been established should accelerate their establishment and ensure smooth utilization." Wang Hongzhi said. "The development of new productive forces' ecology relies on everyone working together to create it." Zhang Yuzhuo emphasized that central enterprises should abandon some outdated concepts in the past, such as short-term investment, short-term returns, pursuit of scale, and making fast money. "Now it is explicitly required that central enterprises must establish the concept of making progress in new quality productivity.". Zhang Chi's tracking research has found that more central enterprises and state-owned capital are actively investing in strategic emerging industries with a foundation. A more comprehensive assessment and regulatory mechanism aimed at stimulating innovation is accelerating its formation. In the future, central enterprises will continue to empower the development of new productive forces through technological innovation. (Lai Xin She)