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Monday, December 4, 2023

Industry Leaders Urged to Establish Research Institutes for Technological Innovations

BusinessIndustry Leaders Urged to Establish Research Institutes for Technological Innovations

During the ongoing two sessions, Yao Lijun, a member of the 14th National Committee of the Chinese People’s Political Consultative Conference, called for more efforts from authorities to encourage industry-leading companies to establish industrial technology research institutes for more technological innovations. Yao, who is also the chairman of Konfoong Materials International Co Ltd, an integrated circuit manufacturer from Ningbo, Zhejiang province, emphasized the importance of such research institutes focusing on a certain industry to meet the needs of customers, generating market benefits quickly.

In addition to establishing research institutes, Yao emphasized the importance of encouraging graduate students to carry out research and development work at the frontlines of businesses, especially in product quality control. Such efforts will help develop technologies and products that meet market demands and foster more “little giant” companies that specialize in niche industries with cutting-edge technologies and great growth potential.

As Yao explained, Konfoong Materials International Co Ltd has vigorously nurtured top talents from home and abroad, forming a talent team with strong technical strength and a reasonable discipline structure, which can better serve the national strategy. The company is confident of topping the world in this field within five years and helping China to better take part in the new round of global technological competition.

Yao’s call for more technological innovation comes as China aims to become a global leader in technological innovation, shifting from being the world’s factory to a high-tech hub. China has set a target of becoming a world leader in key areas, including artificial intelligence, semiconductors, and 5G, among others. The establishment of industrial technology research institutes and the fostering of top talents in niche industries will play a critical role in achieving this goal.

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