Li Dongsheng: Increase technological innovation and capital investment to promote high-quality development of technology manufacturing
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“For the technology manufacturing industry, technological innovation and capital investment are the most important driving forces for development.” On the occasion of the National Two Sessions in 2023, TCL founder and chairman Li Dongsheng focused on the high-quality development of the technology manufacturing industry and proposed to increase technological innovation and Proposal for capital investment support.
Technological innovation and capital investment are facing challenges
Once again at the two sessions, Li Dongsheng proposed high-quality development of the manufacturing industry. This time, Li Dongsheng mainly made suggestions from two aspects: technological innovation and capital investment: First, increase support for R&D investment in technology manufacturing enterprises. The second is to improve the financing environment for the technology manufacturing industry, extend the loan period, and relax the financing threshold. The third is to reduce the cost of production factors in the technology manufacturing industry and reduce the burden on enterprises.
Li Dongsheng believes that high-quality development is the goal of China’s sustainable economic development, which is reflected in the transformation and upgrading of the manufacturing industry, expanding to high-end manufacturing, and enhancing industrial competitiveness. “Based on the real economy and insisting on the manufacturing industry” is an important path to achieve high-quality development.
Combining the practice and thinking of sticking to the industry for more than 40 years, Li Dongsheng said, “For the technology manufacturing industry, technological innovation and capital investment are the most important driving forces for development, but related companies still face challenges in the above two aspects.”
Li Dongsheng pointed out that China’s manufacturing industry already has leading advantages in many industries and technological fields, but in the process of moving towards high-end manufacturing, there are still some key areas such as core equipment, devices and materials facing “stuck neck” problems. He mentioned, “There is no shortcut to solve technical difficulties. It depends on continuous investment and accumulation to improve technological competitiveness.” Taking TCL as an example, in the past five years, TCL has invested more than 48 billion yuan in research and development. A number of leading achievements have been made in some key technologies such as photovoltaic materials and semiconductor materials, and the number of patent applications exceeds 100,000.
In addition, in terms of capital investment, due to the large scale of investment in the technology manufacturing industry, the long return period, and the low return on capital, it is difficult and stressful for enterprises to obtain financing, and the capital chain is tightening. At the same time, the cost of production factors in China’s manufacturing industry has been increasing year by year, and the gap with developed countries is currently narrowing.
Proposal for manufacturing globalization for the third time in a row
Li Dongsheng also proposed for the third time in a row relevant suggestions on the globalization of China’s manufacturing industry. He said that at present, for most Chinese manufacturing companies, they still face multiple risks such as trade frictions, compliance management and patent litigation when they really go global.
To this end, he proposed to improve the level of cross-border services, provide support for “going global” enterprises in terms of legal aid, policy consultation, technology patent litigation, domestic and foreign financing, and promote the globalization of China’s manufacturing industry.
Referring to the current situation of the globalization of the manufacturing industry, Li Dongsheng believes that in recent years, due to factors such as labor costs and environmental protection in China, the cost advantage of product exports has shrunk. The globalization of China’s manufacturing industry must change from exporting products to exporting industrial capabilities, avoiding trade barriers, and realizing greater value globally with its own advantages. Statistics show that TCL TV sales will rank second in the world in 2022.
It is understood that TCL continues to promote global operation capabilities, improve the layout of the global industrial chain and supply chain, and has 43 R&D centers and 32 manufacturing bases around the world, growing into a globally competitive smart technology industry group.
At this year’s two sessions, Li Dongsheng also made suggestions on hot social issues such as the governance of cyber violence and the improvement of the social security system for flexible employment.
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