Tesla (NASDAQ：TSLA) released its 2014 financial report last week. Optimists and bears are trying to figure out the company’s past performance, current situation and future prospects through financial reports, and their behavior may prove one thing — — Can Tesla match its market value of $26 billion? Of course, there is also a possibility that Tesla’s life is more difficult. Tesla’s shares fell sharply on Monday, reaching below $200 per share. At its peak in September 2014, Tesla’s share price was $291 per share.

In a report released today, Barclays said that things are really not as good as they seem. The bank adjusted Tesla’s target price to $190 in a recent report on Tesla.

According to the author of the report, Tesla is successful only in terms of its subversion and innovation in the traditional automobile market. However, we need to understand Tesla from different angles, including recent income statement, company inventory and how to deal with used cars.

Tesla pointed out many problems that Tesla faced in this financial report. Among them, the most unforgettable thing is Tesla’s charging network problem.

The financial report pointed out that "our charging network development plan requires a lot of capital investment and management resources, which may not meet our expectation of selling more Tesla products." Tesla also pointed out that the development of Tesla stores and service centers also requires a lot of money.

Imagine, how many car companies are committed to building infrastructure for these cars to run? At least those car companies that are leading in electric vehicles and can be called Tesla’s competitors claim to build a charging network. However, traditional car companies like BMW and Volkswagen still have a long way to go before electric vehicles surpass Tesla, and Tesla has established a huge network of super charging stations in the United States and Europe and is expanding in China.

Tesla recently said in its official blog that Tesla has built 2000 super charging stations around the world.

Up to now, the design and production of cars are still very difficult, and a lot of financial support is needed, especially for innovative cars like Tesla. In addition, Tesla needs a lot of money to build a charging station to replace the traditional fuel car gas station. If you are a traditional car manufacturer, you may have been shaking with fear. Imagine that GM should build a traditional fuel gas station from scratch, starting from the United States, then to Europe, and then to China … …

You may not want to face such cruel reality every day! However, in the next few decades, Tesla will not only develop new models, but also face such a huge challenge as developing charging networks. It can only be said that the business of this company is not just as simple as cars.

Attachment: Global Distribution Map of Tesla Charging Network Construction in 2016

　　The long-term positive trend of China’s economy has not changed and cannot be changed. It is constantly shifting from high-speed growth to high-quality development, and the old and new kinetic energy are continuously converted. The short-term economic operation may fluctuate and be unstable in stages, but in the whole development process, it will have ten trend changes, which determines the potential and future prospects of China’s long-term economic development.

　　First, the final consumption expenditure growth has become the first driving force for economic growth.

　　From 2014 to 2018, according to the demand expenditure method, among the three major demand growth: fixed capital formation, final consumption expenditure and net export of goods and services, the final consumption expenditure growth has become the first driving force for China’s economic growth for five consecutive years.

　　Moreover, the popular and wave-free consumption of some consumer goods is turning to the pursuit of high-quality, differentiated and diversified selective consumption. In 2018, the total retail sales of consumer goods in China was 38.1 trillion yuan, up 9.0% over the previous year. Although the growth rate slowed down by 1.2 percentage points over the previous year, the contribution rate of the overall final consumption growth (including service consumption) to economic growth was 76.2%, up 18.6 percentage points over the previous year.

　　Second, the consumption structure is advanced: the proportion of service consumption in household consumption is rising.

　　In recent years, the Engel coefficient of urban and rural residents in China has dropped significantly. In 2017, food consumption expenditure only accounted for about 28% of the total expenditure of urban residents, and only accounted for about 32% of the total expenditure of rural residents. The growth of consumption expenditure has increasingly turned to other consumption fields.

　　Compared with commodity consumption, service consumption has maintained a faster growth. Tourism, culture, sports, old-age care and domestic service consumption are very active. According to the Ministry of Commerce, service consumption accounted for 49.2% of household consumption in 2017, an increase of 5.2 percentage points over 2012. In 2018, the proportion of service consumption reached 49.5%, an increase of 0.3 percentage points over the previous year, which also explained the decline in the growth rate of total retail sales of consumer goods in China in 2018. Internationally, in 2018, the proportion of service consumption in the United States reached 68.9%, and other developed countries were 59.4% in Japan, 58% in Britain, 54% in France and 52% in Germany. China accounts for 49.5%, which is close to German and other continental European countries.

　　Third, production and consumption upgrading: production inputs are scientific and digital.

　　In 2018, the expenditure on national research and experimental development (R&D) increased by 11.6% over the previous year, and the ratio to GDP was 2.18%, an increase of 0.03 percentage points over the previous year. At the same time, data becomes a new factor of production and is consumed. In the era of digital economy, the role of data in economic activities is becoming more and more important. It can not only help people to better organize and plan production and operation, but also make effective judgments and predictions. Moreover, it becomes a direct input factor in artificial intelligent manufacturing. In many fields of production and management, it has been regarded as a new factor of production. As early as October 9, 2016, the Political Bureau of the Communist Party of China (CPC) Central Committee had a collective study on the implementation of the strategy of strengthening the country through the Internet. On December 8, 2017, the Political Bureau of the Central Committee once again conducted collective study on "Implementing the National Big Data Strategy", and proposed "Building a digital economy with data as the key element", which made it clear that data is a production factor. The amount of data generated and stored in the world has increased dramatically, and it is estimated that it will reach 44 trillion GB by 2020. The amount of data generated in China will account for nearly 20% of the total global data. As of 2017, the United States has 44% of the world’s large data centers, and the number of large data centers in China is second only to the United States. In the next few years, with the completion of a number of innovation platforms in the field of big data, 13 national big data laboratories will have their own achievements in different fields, providing support and services for related technological innovations in the field of big data.

　　Fourth, the digital economy has become a new industry and opened up new fields in the network market.

　　At present, applications based on new technologies such as Internet, Internet of Things, big data and cloud computing are increasingly entering social production and exchange, resulting in digital media, e-commerce and e-financial services, and many new products, industries and formats. The Internet is changing the production and lifestyle of human beings. According to the World Internet Report 2017, 22% of global GDP is closely related to the digital economy. In 2016, the total scale of China’s digital economy reached 22.58 trillion yuan, ranking second in the world, accounting for 30.3% of China’s GDP. According to the World Internet Report 2018, by 2018, the global Internet users had reached 3.6 billion, more than half of the global population. The number of users in cmnet was 753 million, an increase of 8% over the previous year in 2017, and the use of mobile data increased by 162% year-on-year. In the China market, online entertainment (long and short videos and mobile games), new retail and mobile payment have all made further development, and China is becoming a global Internet giant center.

　　The opening of new fields of digital economy and network market has posed new challenges to modern economics and statistics. The concept of total retail sales of social consumer goods provided in short-term economic operation statistics can no longer reflect the whole picture of household consumption. Data input factors have not yet entered the PPI price index statistics; The concept of fixed capital formation or fixed assets investment can no longer accommodate the investment in production and production tools in the network field; The direct exchange value and consumption value of online market also failed to enter the current statistical system; The concept of "gross domestic product" in modern economics can no longer accommodate and cover the economic activities of the whole society and the creation of total social output in the new era. Paying too much attention to the increase or decrease of 0.1 or 0.2 percentage point of GDP will make us fall into the misunderstanding of observing the economic situation.

　　In October, 2016, General Secretary of the Supreme Leader stressed that it is necessary to increase investment, strengthen the construction of information infrastructure, promote the deep integration of the Internet and the real economy, speed up the digitalization and intelligentization of traditional industries, make the digital economy bigger and stronger, and expand new space for economic development. In March 2017, the "Government Work Report" first proposed to accelerate the development of the digital economy. In October of the same year, the digital economy was written into the report of the 19th National Congress of the Communist Party of China. Developing digital economy has become a national strategy. At the China International Import Expo on November 5, 2018 and the APEC meeting on November 18, the Chairman of the Supreme Leader emphasized that all countries should seize the opportunities brought by the new round of scientific and technological revolution and industrial transformation and strengthen cooperation in frontier fields such as digital economy, artificial intelligence and nanotechnology to jointly create new technologies, new industries, new formats and new models. Digital economy is the future development direction of Asia-Pacific and even the world.

　　Five, high-end manufacturing and intelligent manufacturing change the industrial economic structure.

　　In 2018, the National Development and Reform Commission issued the "Three-year Action Plan for Enhancing the Core Competitiveness of Manufacturing Industry (2018-2020)", and organized and implemented special actions for the industrialization of key technologies in key areas such as rail transit equipment, high-end ship and ocean engineering equipment, intelligent robots, smart cars, modern agricultural machinery, high-end medical devices and medicines, new materials, manufacturing intelligence, and major technical equipment.

　　In recent years, the new kinetic energy of manufacturing industry has been gradually enhanced. The high-end equipment manufacturing industry represented by high-speed rail and large aircraft, and the high-tech industry represented by information technology have maintained a rapid growth trend. Wind data shows that in 2018, the added value of high-tech industries, equipment manufacturing industries and strategic emerging industries increased by 11.8%, 8.3% and 8.8% respectively, and the growth rate was faster than that of industrial output above designated size. The new kinetic energy promotes the optimization of the kinetic energy structure of the traditional economy. In 2018, the proportion of high-tech manufacturing industry in industries above designated size reached 14.4%, an increase of 1.4 percentage points year-on-year; Investment in high-tech manufacturing industry increased by 16.1% year-on-year, and the growth rate was 6.6 percentage points higher than that of all manufacturing investment.

　　At the same time, intelligent manufacturing has become a new trend of high-quality development of industrial economy. In July 2017, the State Council officially issued the "New Generation Artificial Intelligence Development Plan"; In November 2018, the "Work Plan for Revealing the Key Tasks of New Generation Artificial Intelligence Industry Innovation" issued by the Ministry of Industry and Information Technology proposed that by 2020, China will reach or approach the international advanced level in key technologies, computing power, communication capabilities, and standards related to vehicle intelligent platforms. In 2019, the "Government Work Report" proposed "smart+"; On March 19, 2019, the seventh meeting of the Central Committee for Comprehensively Deepening Reform reviewed and approved the Guiding Opinions on Promoting the Deep Integration of Artificial Intelligence and the Real Economy, and proposed to build an intelligent economic form that is data-driven, man-machine collaboration, cross-border integration and sharing. This means that the pace of promoting artificial intelligence to empower and upgrade traditional industries in China has been greatly accelerated. It can be predicted that artificial "intelligence+"will become an important direction of manufacturing development in the future, and will also become a new kinetic energy engine to accelerate the development of emerging industries.

　　The application exploration of artificial intelligence in manufacturing industry is forming four typical application modes. One is to improve manufacturing efficiency, the other is to optimize production technology, the third is to optimize supply chain management efficiency, and the fourth is to improve after-sales operation and maintenance value. With the deepening of technology application, the coupling of capital investment is also increasingly strengthened. Driven by technological breakthroughs and application requirements, artificial intelligence technology has stepped out of the laboratory, accelerated its penetration into various fields of the industry, and greatly improved its industrialization level. In this process, capital has played an important role as an accelerator of industrial development. In the first half of 2018 alone, the global financing scale in the field of artificial intelligence reached 43.5 billion US dollars, of which the investment scale in China reached 31.7 billion US dollars, accounting for more than 70% of the world. At the same time, artificial intelligence has been widely used in intelligent robots, drones, finance, medical care, security, autonomous driving, search, education and other fields. Among them, autonomous driving is one of the most promising landing areas in the field of artificial intelligence. Traditional domestic automobile companies such as FAW, SAIC, BAIC, Chang ‘an and Dongfeng have invested heavily in intelligent and autonomous driving.

　　Six, the supply of some public goods has become a new service industry.

　　The report of the 19th National Congress of the Communist Party of China pointed out that the main contradiction in our society has been transformed into the contradiction between the people’s growing need for a better life and the unbalanced development. People’s basic needs for food, clothing, housing and transportation have changed to more needs for fairness, environment and various public products and services.

　　In cities, insufficient development is the main problem. Mainly for the lack of public products and public services, not excellent. The so-called public goods generally fall into two categories. The first category is transportation, urban infrastructure, water, electricity and heat; The second category is science, education, culture, health and sports insurance (insurance). These products are in short supply or poor quality, so they cannot meet everyone’s needs for a better life. In the case that the supply of these products and services depends entirely on government input, it can only lead to insufficiency or inferiority. Therefore, market mechanism and competition mechanism should also be introduced into the supply of some public goods. The supply of public goods and public services should give consumers choices, and the pricing of public goods should be flexible, so as to attract more social capital into the production and supply of public goods and form new industries. In the primary stage of socialism, public goods have different degrees of welfare and different degrees of commodity, so they should be properly classified, treated differently, specifically implemented and priced differently to attract social capital investment and alleviate the shortage of government investment.

　　For example, in the fields of education and medical care, the welfare should be guaranteed by the government, and the commodity price should be guided by the government to regulate the market. The health industry is an emerging industry that integrates medical treatment, rehabilitation, old-age care, leisure and tourism. In western developed countries, the health industry is the second largest industry after the financial industry. In 2017, the health industry in the United States accounted for 17% of GDP. China is stepping into an aging society, the proportion of middle-income groups in social strata is rising, and the demand for health is growing. It is necessary to combine the supply of public services such as medical care and rehabilitation with the supply of competitive services such as leisure and tourism, allocate resources through market mechanisms, and create supply. Of course, the special industry formed by the supply of some public goods should not take profit as the sole purpose, and it has the characteristics of inclusiveness, but it also needs to solve the problems of investment return and commercial interests of enterprise development.

　　Seven, economic agglomeration in the Bay Area and urban agglomeration to form the scale effect of resource allocation.

　　China’s economy will gather in Guangdong, Hong Kong and Macao Bay Area, Shanghai and Yangtze River Delta Bay Area, Beijing and Tianjin and Bohai Bay Area, and become the growth pole of China’s economy. By 2016, the population, land area and port container throughput of Guangdong, Hong Kong and Macao Bay Area ranked first among the four Greater Bay Area cities in the world, with a total GDP of 1.38 trillion US dollars, second only to new york Bay Area. In North China, the sub-centers of xiong’an new area and Beijing will also be the signs of regional economic agglomeration. Master Plan of xiong’an new area, Hebei (2018— 2035) closely follows xiong’an new area’s strategic positioning, and proposes to orderly undertake the function relief of Beijing’s non-capital, optimize the pattern of land space development and protection, create a beautiful ecological environment, promote the integrated development of urban and rural areas, shape the features of the new district, create a livable and business-friendly environment, build a modern comprehensive transportation system, build a green and low-carbon city, build a world-class innovative city, and create a city of digital intelligence. The construction of xiong’an new area has attracted international attention. The Nihon Keizai Shimbun commented that the construction of a new city "xiong’an new area" is a grand plan put forward by China in 2017 as a "Millennium Plan". It will build a smart city using a new generation of cutting-edge technologies, and the infrastructure construction will be completed by 2022. It is estimated that the population of the new district will exceed 2 million in the future. The estimated total investment is 2 trillion yuan.

　　With the construction of a number of central cities, urban agglomerations around central cities will rise, thus further accelerating the agglomeration effect of China’s economy and the scale effect of resource allocation.

　　Eight, the new urban-rural and regional relations shape a new division of labor and expand new exchanges.

　　The opposition between industrial production and agricultural production, and the opposition between physical and chemical economy and bio-economy were once the basic contents of traditional urban-rural exchange and urban-rural relations. Now and in the future, there will be subversive changes, and the development trend will be: big cities and economic core areas will focus on intelligent services (scientific research and development design, etc.), data and information, digital economy and public goods production; Small and medium-sized cities are dominated by industrial physical and chemical economy and labor service economy; Rural areas are dominated by bio-economy and eco-economy, forming a new exchange relationship among them. This not only provides a wider employment space for various labor factors, but also forms a more detailed and exquisite professional division of labor. The content of urban-rural and regional exchange relations is more diverse and there is more room for development.

　　At the same time, the development of urban rail transit provides greater convenience for the division of labor and cooperation between cities, and the phenomenon of "commuting" between cities is becoming more and more frequent, which means that the tradeability of service labor is further enhanced and the service trade is further expanded, and at the same time, it creates new foundations and conditions for the transformation and upgrading of service industry.

　　Nine, new opportunities for rural revitalization.

　　The strategy of rural revitalization put forward by the 19th National Congress of the Communist Party of China is to give priority to the development of agriculture and rural areas, establish and improve the system, mechanism and policy system of urban-rural integration development in accordance with the general requirements of industrial prosperity, ecological livability, rural civilization, effective governance and affluent life, and accelerate the modernization of agriculture and rural areas. This will become the general grasp of the work of agriculture, countryside and farmers in the new era. According to this strategy, agriculture must first become a human capital-intensive industry. It is necessary to professionalize agricultural management and cultivate a modern new peasant team. Encourage new farmers to actively participate in the construction of cooperation, credit and mutual aid organizations, so as to become modern and efficient commodity agricultural laborers and agricultural producers and operators. Secondly, we should support the popularization of agricultural scientific research and build a stable scientific and technological support system; Scientific research support and personnel training are the foundation of modern agriculture and an important way to solve the bottleneck constraint of resource elements, which need to be accumulated for a long time. Third, rural renovation is an important measure to promote rural revitalization. With the development of urbanization, the structure, layout and function of rural land use will change dramatically. It is difficult to adapt to this rapid change by relying solely on the land market, and the government needs to intervene in the form of law, planning and construction projects. China’s rural renovation should be given more complete functions as an important platform for implementing the rural revitalization strategy, and the combination of land renovation with agricultural scale management, rural tourism, infrastructure construction, landscape and environmental protection should be promoted. Fourth, to be a "new node" for small and medium-sized towns. To create "Living in the countryside and working in cities and towns "has promoted the development of rural areas." In the future, we should create conditions for the development of county towns and small towns in infrastructure investment, medical and educational resources layout and land index distribution. Work on the node of small cities and towns. Fifth, build beautiful countryside and develop ecological economy. Rural revitalization is not the revitalization of every village. In some natural villages, there has been a phenomenon of natural disappearance of young and strong labor force and large-scale land abandonment. We should promote their disappearance naturally, reduce the ratio of administrative villages to natural villages, and make land resources and construction funds more rationally allocated. On this basis, we will implement "village renewal" to improve the quality of rural life and build beautiful countryside. Implement rural construction marked by "toilet revolution" to improve the quality of livable life in rural areas. Through the implementation of village renewal projects, these villages will form a distinctive style and a pleasant ecological living environment, and promote the development of ecological economy.

　　X. China is more closely linked with the open world economy.

　　In the face of trade protectionism and the US trade war, China’s policy of opening to the outside world has not changed, and the steps of opening to the outside world have become more solid. China’s basic strategy to meet the challenge is to develop itself and overcome trade protectionism in building an open world economy. China has set up 12 free trade pilot zones, implemented more open trade and investment facilitation measures, and further expanded the opening of service trade. At the same time, it has explored new paths for deepening reform in the whole country, copied and popularized new experiences, and gathered new common interests with other countries in the world, which will become a new hub for China to connect with the open world economy.

　　In 2018, China ranked first in world trade in goods and second in service. Since 2013, the foreign investment of China enterprises has exceeded 100 billion US dollars, and it has stabilized at about 120 billion US dollars in 2018, and the stock of overseas investment has reached about 1,929.5 billion US dollars. China has become the third largest economy in the world with foreign investment, and it is the second largest economy if China and Hongkong are included. China’s economic ties with the world are hard to isolate. It is wishful thinking for American protectionist forces to try to decouple China’s economy from the world economy.

　　Since 2013, China has made continuous progress in jointly building the Belt and Road Initiative with relevant countries. In 2017, it implemented new investment in 57 countries along the route, with an investment of US$ 20.17 billion, up 31.5% year-on-year, accounting for 12.7% of foreign investment, up nearly 5 percentage points from the previous year. In 2018, new non-financial investment in countries along the route reached US$ 15.64 billion, up 8.9% year-on-year, and the proportion of foreign investment further rose to 12.8%. By the end of 2018, China-Europe trains had accumulated more than 13,000 trains, and the return rate increased by nearly 20 percentage points, reaching 49 cities in 15 countries abroad; 387 civil aviation routes reach 33 countries along the route. Financial cooperation continued to strengthen, with 11 Chinese banks setting up 71 first-level institutions in 27 countries along the route. Carry out joint financing cooperation with multilateral development banks such as African Development Bank, Inter-American Development Bank and European Bank for Reconstruction and Development. RMB clearing arrangements have been established in seven countries and regions along the route, and the RMB cross-border payment system covers 41 countries and regions along the route. People’s hearts are also deepening. Cultural cooperation agreements have been signed with more than 60 countries along the route, more than 300 cultural exchange implementation plans have been determined, 17 overseas China cultural centers have been built in countries along the route, and 85 overseas educational institutions and projects have been held in countries along the route. In deepening cooperation, we have continuously reached a new consensus on international economic and trade rules and reached 17 free trade agreements with 25 countries and regions.Although no bilateral investment agreement has been reached with the European Union, relevant bilateral investment agreements have been signed separately with many European countries.

　　In the future, China will further build and improve the "One Belt, One Road" information platform for foreign investment, and reduce the asymmetry of foreign investment information of enterprises. Reasonably guide the investment direction of enterprises in the Belt and Road Initiative, promote the transfer of superior production capacity to countries along the Belt and Road Initiative, improve the investment layout of enterprises in key industries and regions of the Belt and Road Initiative, improve the quality of investment in the Belt and Road Initiative, and achieve mutual benefit and win-win results with the host country.

　　(The author of this article is Pei Changhong, a member of Chinese People’s Political Consultative Conference and a professor at China Academy of Social Sciences. Source: Economic Daily)

[Text/Observer Network Ruan Jiaqi]

Idol artists are constantly changing into new South Korea, and it has become the dream of countless trainees to debut in the well-known talent show "Produce 101", which once created super-popular groups such as IOI and WANNAONE.

But now the "101 Series" has become a street rat-according to Yonhap News Agency, the South Korean police confirmed today (14th) that since the first season draft held in 2016, the whole series of "Produce 101" has been faked in all four seasons.

An Jun Ying, the director of the program, and Jin Rongfan, the producer, who were arrested on the 5th, were handed over to the prosecution for review and prosecution today. In addition, eight other people involved in the case were put on file for investigation.

In the third season, the women’s group IZ*ONE and the men’s group X1, which just debuted in the fourth season, have also stopped their work schedules due to the "fraud scandal", unable to board the singing program, and lost many advertising endorsements.

Faced with the request of the members of these two groups to dissolve their respective original societies, CJ E&M, a brokerage company, said that the results to be investigated would be released for further discussion. However, it has been revealed that some members are currently emotional and ask for dissolution.

The third season of "Produce 101" debuted in the Japanese-Korean cooperative women’s group.IZ*ONE from official website.

According to Yonhap News Agency’s report on 14th, An Jun Ying, director of the Korean idol talent show "Produce 101" and Jin Rongfan, the producer, were handed over to the prosecution for review and prosecution today after being arrested by the court on 5th for allegedly manipulating the voting results in a black box.

An Junying and others are suspected of operating behind the scenes in the live contest of the first to fourth seasons of the program, fabricating the voting results of the audience’s paid SMS and selecting specific trainees.

At present, An Junying has confessed to the police that she tampered with the player rankings in the third and fourth seasons. The police also revealed that they have mastered the situation that the production team and some trainees’ brokerage companies manipulated the ranking of contestants.

After investigation, An Junying has been entertained by many performing arts brokerage companies in entertainment places for many times since last year, and the total amount of bribes involved has reached tens of millions of won (about 100,000 to 500,000 yuan).

The police believe that there are black-box operations in the whole four seasons of the program. In addition to the creators, more than 10 people, including personnel of performing arts brokerage companies and CJ entertainment media executives of Mnet channel operators, have also been put on file for investigation. Among them, two people related to the planning company made a complaint.

The publication of the "full series of fraud scandals" not only cast a shadow over IOI and WANNA ONE (both of which have been dissolved due to their activities) in the first two seasons;

the year of 2016IOI debuted in the first season.

Debuted in the second quarter of 2017WANNA ONE

This has dealt a devastating blow to the future careers of IZ*ONE and X1, who are active in Korean music.

According to South Korea’s East Asia Daily, IZ*ONE, which was originally scheduled to release its first regular album on the 11th of this month, was urgently cancelled, and the album release plan was postponed. Not only could it not be put on the singing programs of SBS, KBS and MBC, but all the programs on the new album would also be cut to promote it.

Publicity photos of the new album BLOOM*IZ

CCTV News:In May, many departments launched a "combination boxing" of real estate policies, and introduced a series of optimization and adjustment policies, including the minimum down payment ratio to 15% and the cancellation of the lower limit of commercial loan interest rates. Many cities followed suit, including lowering the threshold, lowering the down payment, adjusting interest rates, and "swapping old for new" policies. Now, one month has passed, what is the effect? On June 23rd, we will pay attention to the recent changes in the real estate market. In Beijing, after visiting the new housing market, the reporter found that with the continuous release of the policy effect, the number of people looking at the house has increased significantly, and the amount of online and offline consultation has greatly increased.

In the sales office of a new house project in Beijing’s South Fourth Ring Road, the reporter saw that many prospective buyers were learning about the real estate situation from the sales staff. The reporter made a rough statistics at the scene. Within an hour, the sales office hall received more than 20 groups of people who came to see the house. Sales staff told reporters that compared with before, the number of people who came to see the house recently increased significantly.

According to the statistics of relevant institutions, influenced by a series of policy optimization and adjustment recently, the number of consultations and offline visits of many new housing projects in Beijing has increased significantly, and the number of visits of some projects has increased by 70% compared with the beginning of the year. At the same time, influenced by the optimization of the purchase restriction policy outside the Fifth Ring Road, Shunyi, Changping, Daxing, Fangshan, Tongzhou and other districts have now become the best areas in Beijing’s new housing market. According to the latest data released by the Beijing Municipal Commission of Housing and Urban-Rural Development, from May 17 to June 17 this year, 3,147 sets of new commercial residential buildings were signed online in Beijing.

Wang Ruimin, an associate researcher at the Institute of Market Economy of the State Council Development Research Center, said: "I think confidence in the market is a great boost, which means that most buyers who have some wait-and-see mood also actively enter the market, which will also drive other residents to have confidence, and the market transaction heat will increase and become active."

However, after visiting real estates in other regions, the reporter found that not all real estates have seen a substantial increase in the number of visits at present, and there is also a phenomenon of uneven hot and cold between different real estates. The real estates suitable for just-needed and improved needs are obviously more attractive to buyers. In addition, because Beijing’s current policy has only lowered the interest rate of provident fund loans, it has not followed up by lowering the down payment and lowering the interest rate of commercial loans. Therefore, the new housing market is more wait-and-see than the second-hand housing market, and many buyers are still waiting to see more policies.

Hangzhou: Second-hand housing transactions increased significantly.

On May 9, Hangzhou announced the cancellation of the purchase restriction. It has been more than a month since then. What is the effect of the policy? After the reporter visited, it was found that the volume and volume of local second-hand housing belts have increased in different ranges.

Not long ago, Zhejiang Branch of the People’s Bank of China issued the first home down payment and loan interest rate policy. The down payment ratio was not less than 15%, and the first home loan interest rate dropped to 3.25%, both of which were at historical lows, greatly boosting the just-needed willingness to buy a house. Xiao Zhang, who has worked in Hangzhou for four years, has been busy looking at houses in various intermediaries recently after learning that the local mortgage interest rate has dropped sharply.

Statistics from relevant intermediaries show that in May, 8254 sets of second-hand houses were sold in Hangzhou, up 8.3% year-on-year, and the turnover of second-hand houses exceeded 8000 sets for three consecutive months.

Shangguan Jian, dean of RealData Hangzhou Branch, said: "The full liberalization of purchase restrictions has significantly reduced the cost of buying a house, which has played a significant role in helping the whole market."

The reporter noted that the Hangzhou property market, stimulated by the New Deal, recently saw an increase of 20% and 30% in the daily average number of second-hand houses and the number of people who booked rooms compared with those before the New Deal.

He Chenyu, deputy director of the Real Estate Development Department of Hangzhou Housing Security and Real Estate Administration, said: "We have noticed that the leading indicators of the relevant markets are at a high level in the past two years. According to this, it is predicted that the policy follow-up will still have a certain lasting effect and the market will continue to pick up."　

Wuhan: Market confidence has been further enhanced.

Wuhan is the first city in China to announce the reduction of the lower limit of mortgage interest rate after the "New Deal of May 17th". In the past month, with the successive implementation of various real estate policies, the activity of Wuhan property market has been significantly improved, consumers’ expectations have improved, and market confidence has been further enhanced.

In a sales office in Hanyang District, Wuhan, Mr. Xiang is consulting about buying a house. With the new house purchase measures, the down payment threshold is lowered, and he can now replace the same down payment with a larger house.

At present, Wuhan’s provident fund loan interest rate, commercial loan interest rate and minimum down payment ratio are all at historical lows. Affected by this, in the past month, the average daily transaction volume of new houses in Wuhan was nearly 200 sets, which was nearly 20% higher than that in April and nearly 50% higher than that in the first four months of this year.

Compared with new houses, the activity of the second-hand housing market in Wuhan has also increased obviously, and the transaction volume of second-hand housing has exceeded that of new houses for three consecutive months. Many intermediaries told reporters that in the past, the intermediary commission was mostly borne by the buyer, but now it is borne by the seller or shared by both parties, which shows that the market is shifting from the seller’s market to the buyer’s market.

Experts said that with the release of the real estate policy effect, I believe that the follow-up will further boost the market.

Pan Shibing, president of Hubei Real Estate Association, said: "The policy has been implemented for more than a month, and I think the effect is quite obvious. The whole consumer’s expectation has improved, and the market confidence has obviously recovered, including the obvious increase in the whole sales volume. In the next step, the recovery of the entire real estate market will be more obvious, and the confidence of real estate enterprises will be more obvious. "

Shenzhen: The policy effect is still being released.

After the announcement of the "5.17 New Deal for the Property Market", Shenzhen also actively followed up and lowered the minimum down payment ratio and the lower interest rate limit of individual housing loans. The reporter recently visited and found that it has been more than a month since the release of the policy. The current activity of the Shenzhen property market has improved and the policy effect is being continuously released.

Recently, the reporter learned in a real estate agency store in the central area of Shenzhen that since the implementation of the New Deal, the transaction volume of second-hand houses in this store has increased by 52% month-on-month, and the enthusiasm of customers who just need to buy a house for the first time has been significantly improved, especially the number of customers who come to see the house for the first time through online appointment has increased by more than 20% compared with before, among which the growth of customers who just need to buy a house is particularly obvious.

In the interview, many buyers said that the landing of the new policy has reduced the down payment of buyers. Under the condition of limited budget, buyers now have more choices.

The reporter learned from the Shenzhen Real Estate Agency Association that after the introduction of the New Deal, the policy effect of low down payment and low interest rate continued to be released, which not only drove some customers who just needed to enter the market, but also improved the activity of improved housing transactions.

According to relevant statistics, from May 18th to June 17th, 2286 sets of new houses were sold in Shenzhen, up by 3.96% over the month before the New Deal. A total of 4136 sets of second-hand houses were sold, up 2.86% from the month before the New Deal.

CCTV News:Some people say that the charm of competitive sports lies in the uncertainty of results. But for the audience who like weightlifting, diving and table tennis in China, there are not many opportunities to experience the fun of this uncertainty. Although it is a bit "Versailles" to say this, these three traditional advantages of China won 18 gold medals in this Tokyo Olympic Games, and many projects won the championship and runner-up, continuing to write brilliantly.

The first enumerated heavy gold medal in the history of China Olympic Games came from the 1984 Los Angeles Olympic Games, which was won by Ceng Guoqiang in the men’s 52kg event. China weightlifting team is a veritable "gold medal winner". In this Tokyo Olympic Games, China’s weightlifting team still performed brilliantly, and its achievements of 7 gold medals and 1 silver were amazing. In men’s weightlifting, there were four men and four gold medals, among which the total scores of Li Fabin, Chen Lijun and Lv Xiaojun all broke the Olympic record, while the total score of Shi Zhiyong broke the world record. Four women weightlifters won three gold medals and one silver, among which Hou Zhihui and Li Wenwen both broke the Olympic record. China’s "Heavenly Weightlifting Team" created China’s strength legend with its perfect report card.

When it comes to China diving team, Chinese people often regard it as the "dream team". Since Zhou Jihong won the first Olympic medal for the China team in 1984, this gold medalist has won 47 Olympic gold medals, and created several diving legends such as Gao Min, Fu Mingxia and Guo Jingjing. At this Tokyo Olympic Games, China’s diving legend continued, winning 7 gold medals and 5 silver medals, winning the first and second place in 4 events. In addition to the gratifying results, the newcomers emerging in this diving team are also eye-catching. "Surprise combination" Chen Yuxi and Zhang Jiaqi, two girls with an average age of only 16 years old, led the way in the competition and won the women’s synchronized 10-meter platform gold medal without any suspense; Quan Hongchan, who was only 14 years old, even staged the "water spray disappearing" in the women’s 10m platform final, and the "three-jump perfect score" broke the highest score record in Olympic history. Before, some veterans went out to continue to write brilliant stories, and after that, some teenagers rose and new stars shone. Diving Dream Team keeps the legend of China shining in the Olympic Games.

Table tennis was officially listed as an event in the Seoul Olympic Games in 1988. So far, the China table tennis team has won 32 of all 37 gold medals in the 9th Olympic Games. In this Olympic Games, China table tennis team won 4 gold medals and 3 silver medals, but only the mixed doubles event regretted losing the gold medal. Among them, the men’s doubles and women’s doubles events achieved four consecutive Olympic championships, while the women’s singles events achieved nine consecutive Olympic championships, and the 32-year-old Malone became the first person to win the Olympic table tennis men’s singles championship, and became the player who won the most Olympic gold medals in the history of the national table tennis team with a proud score of 5 gold medals. Some netizens said that you can always trust the China table tennis team. In fact, what we believe is not the unbeaten legend, but their determination, belief and courage to keep fighting for the glory of the national ball.

It is not easy to achieve a legend, but it is even more difficult to continue it. Behind the applause and glory are the athletes’ silent persistence and hard work under great pressure.

Liu Guoliang, President of China Table Tennis Association:Everyone has worked hard for five years and everyone has paid a lot. This huge pressure is unimaginable to ordinary people, but we gritted our teeth and did it. What’s important is that we have demonstrated the fighting capacity, cohesion and the spirit of unity of the China team to the people and the world at an extremely difficult time.

On the morning of March 7, the Jiangsu delegation of the Second Session of the 14th National People’s Congress held a plenary meeting, at which the topic of how to protect, utilize and innovate the intangible cultural heritage in Jiangsu in the new era was discussed. In recent years, by strengthening protection, cultivating talent teams and innovating artistic expressions, Jiangsu has made Kunqu Opera, one of the world’s intangible cultural heritages, constantly glow with new charm.

Intangible protection

Ancient Kunqu opera reappears the glory of the times

Kunqu Opera is one of the oldest existing operas in China, and it is called "the father and teacher of hundreds of operas". In May 2001, Kunqu Opera was awarded the title of "masterpiece of oral and intangible heritage of mankind" by UNESCO. Kunqu opera has both cultural heritage and cultural products. Its protection and inheritance will help to enhance people’s awareness of traditional culture and group identity, and promote social cultural prosperity and development.

Kunshan, Jiangsu Province is the birthplace of Kunqu Opera. In recent years, Kunshan regards the protection of Kunqu Opera as an important part of exploring new experiences in building the modern civilization of the Chinese nation, strengthens cultural self-confidence, highlights the spirit of the city, shows the characteristics of the city, and thoroughly implements the three-year action plan for promoting the brand of Kunqu Opera. At the same time, it holds brand activities such as "Beautiful Days and Elegant Collection", "Kunqu Opera Home" and "Chongyang Music Festival", and at the same time, it strengthens the creation of excellent Kunqu Opera, promotes the tour of excellent Kunqu Opera, and promotes it with multiple subjects, types and channels.

Since 2022, the "New Three Years, New Hundred Operas" program has been launched in the Grand Festival of Traditional Opera (Kunshan), focusing on the selection and training of leading opera talents, the support of endangered operas and the construction of China opera heritage base, actively exploring new modes such as "Opera+Tourism", "Opera+Fashion" and "Opera+Industry", which has effectively promoted the protection and development of China operas.

One stage will be Kyushu, and one city will watch hundreds of plays. Since the opening of the Hundred Drama (Kunshan) Festival in 2023, 40 opera troupes across the country have given 26 wonderful performances, with over 15,000 people watching live performances, over 70 million people watching online performances, and nearly 300 million people in five sessions. Sina Weibo has read 400 million people and over 1.6 billion people in five sessions. The Tik Tok has been broadcast for 300 million people, with the cumulative number exceeding 1.2 billion people in five sessions, which fully shows the enduring vitality and colorful weather of Chinese opera.

personnel training

"Xiao Kun Ban" blooms the flower of inheritance

The performance of Kunqu Opera lasted for 400 to 500 years, and there were strict norms for oral instruction. Besides, cultural elites have been involved in the refinement process of Kunqu Opera for a long time since the Ming and Qing Dynasties, so it was inherited in an orderly manner and left us a valuable cultural heritage. Inheritance is the soul of Kunqu Opera’s eternal life. Only by getting more young people to participate in the creation and appreciation of Kunqu Opera can we store endogenous power for the sustainable development of Kunqu Opera.

In 1921, the establishment of Kunqu Opera Studio opened the prelude to the inheritance and development of Kunqu Opera since the 20th century. In April, 1992, the first small Kunqu class in China was formally established in Kunshan No.1 Central Primary School, marking the entrance of Kunqu culture into the campus. By 2023, Kunshan had successively set up 22 small Kunqu classes in primary and secondary schools in the city, and trained more than 5,000 Kunqu students. More than 100 students were selected for further study in professional colleges, and nearly 20 students have become national excellent Kunqu actors.

The establishment of Kunshan Contemporary Kunqu Opera Theatre has also created a platform for outstanding Kunqu students to dream of Kunqu Opera. Many young actors who had the experience of learning opera in Xiaokun class have grown up and matured on the stage of Kunqu Opera Theatre, contributing to the inheritance and promotion of Kunqu Opera culture. At the same time, in the Kunqu Opera Talent Training Class of the Opera School affiliated to Shanghai Theatre Academy, there are also students from Xiaokun Class, who are moving towards the growth of professional actors and waiting for six years to stand on the stage of Kunqu Opera Theatre.

innovative development

Traditional culture realizes cross-border integration.

Under the background of the integration of literature and tourism in the new era, more and more people began to know and like Kunqu opera, and even fell in love with this kind of intangible culture. On the stage, masterpieces of famous rookies such as Peony Pavilion, White Snake and Gu Yanwu continue; In the theater, there are more and more young audiences, which makes people feel that the ancient Kunqu opera art is rejuvenating.

"Immersion" performance is one of the most effective and popular performances of Kunqu Opera. Compared with the past, Kunqu Opera not only exists in professional academies, folk music clubs and inheritance institutions, but also generally appears in various tourist sites and experience projects. Kunqu Opera performances went out of the theater and into the gardens and halls. A series of immersive Kunqu Opera performances were launched, which integrated the appreciation of landscape gardens and listening to operas, making the audience more immersive.

In addition, Kunqu opera is also combined with modern science and technology, relying on technologies such as the Internet and Metauniverse to innovate artistic expression forms. In August, 2022, the Kunqu Opera "Huansha Ji" was performed simultaneously in the Grand Theatre of Kunshan Culture and Art Center and Dayuwan Square through the 5G holographic live broadcast technology, realizing the stage performance "time travel".

This exhibition is an innovation in the way of traditional Chinese opera communication. Holographic projection technology has broken the limit of the number of people and venues in the theater, and made the traditional Chinese opera art really "go out of the theater and approach the public". The first show of "Opera+Science and Technology" has aroused enthusiastic response, which is a new way to promote the spread of opera art to people’s lives. At the same time, the digital guidance of Kunqu opera has also promoted the transformation, application and development of digital resources of traditional culture.

(Zhang Wenwen)

Editor: Tang Xinci

Editor: Hu Su Xiaoling

Audit: Yuan Xianglin

Editor: Cheng Juren Editor: Hu Su, Xiao Ling Audit: Yuan Xianglin

"Love Excellence" Yao Chen and Chen rushed to the Chinese clothes

　　　　　　　 Directed by Chinese-American director Alexi Tan and starring Yao Chen, Liu Ye and Chen Chong, the fashion love movie "Love Outstanding" will soon be released to meet the general audience. Apart from the dazzling star lineup, the presence of international famous brands such as Hermes, Versace, Cartier and Diesel has made the film more pure in fashion among many domestic fashion movies.

International brands strive to blow "Chinese style"

　　　　　　　 Whether the four major brands get together in the film Love Outstanding, or the two leading actors Yao Chen and Liu Ye in the film become the first spokespersons of world-renowned brands in China respectively, the trend of increasingly close relationship between international brands and China’s cultural industry is highlighted. Selecting the most popular and appealing first-line stars and excellent film and television works to work together is not only an effective way for international brands to actively explore the China market and improve brand awareness, but also a good way for China actors or film and television works to stand on the world stage and integrate with the international mainstream.

　　　　　　　 The most intuitive change is that when we walk into the makeup area of department stores, the blonde western faces have been quietly replaced by the well-known China actresses. At that time, those English brands that sound a little awkward and unfamiliar seem to have become a lot more friendly. Even if we don’t know which products we are suitable for, people can know a little about the brand style by looking at the product endorsements. Through these endorsements, foreign advertising companies or film and television production companies have learned more about China stars. Through the penetration of these brands, they will be subtly influenced in the future global strategy formulation, and more China actors and film and television works will have the opportunity to stand on the world stage.

Yao Chen logo smiles into a world business card

　　　　　　　 More and more pictures of fashion street shooting, magazine cover blockbusters and attending brand activities have witnessed the changes of Yao Chen in the past year or two — — Her increasingly international fashion temperament comes from the popularity and praise accumulated by excellent film and television works and the self-confidence after being recognized by more and more world-renowned brands. In June, 2010, Yao Chen signed a contract with an internationally renowned high-end cosmetic brand, becoming the first female spokesperson of the brand in China. "Her true and natural personality, energetic smile, conquered everyone. These are from the heart and cannot be concealed. This is also the idea that biotherm wants to express, which is true, modern and energetic. We hope that through cooperation with Yao Chen, we can be closer to customers in China and provide better life enjoyment for modern women. " Lamy, the general manager of the brand in China, expressed his attitude, and Yao Chen’s iconic BigSmile left a deep impression on the French head office.

　　CCTV News:Under the background of complicated and changeable international trade environment and slow recovery of international investment, although some enterprises have moved their manufacturing bases from China to lower-cost areas, more investors are optimistic about the future development of China market.

　　In the process of moving towards the high end of the global value chain, where should China enterprises compete in the value chain? From "Made in China" to "Made in China", what efforts should be made? A number of business representatives discussed these issues in the column "On Tao".

　　Pang Guanglian, Secretary-General of China Petroleum and Chemical Industry International Capacity Cooperation Enterprise Alliance: In the process of this value chain reconstruction, some China enterprises have moved to Southeast Asia due to the increase of this cost, but recently we were in Zhejiang, and I recently visited more than 40 enterprises in Zhejiang. Many Zhejiang enterprises went to Vietnam and Cambodia, and after investing, they came back two years later, because China is the most complete among all industrial categories stipulated by the United Nations, with supporting infrastructure and industry.

　　You Feifeng, Chairman of Huafeng New Materials Company: From a long-term perspective, if we carry out some industrial transfer, it must be considered by some comprehensive factors, which is called comprehensive cost in our industry. Although it is said that low-end industries will inevitably move to some areas with lower comprehensive costs, some high-end industries may still develop further in some industries under the influence of such factors as being close to resources and some markets.

　　Pang Guanglian: But we must also see a trend now. The production focus of our entire petrochemical products has indeed shifted from west to east. Now China has occupied 39.4% of the world’s chemical production, which is close to 40%. According to BASF’s new CEO, it is possible that by 2030, the total output value of China’s chemical industry will occupy half of the whole world, and then a major change will take place.

　　Another is the focus of production, which gradually concentrates on the supply places of raw material production resources. In recent years, the flammable oil and gas in the United States has risen rapidly. As Mr. kadouri said yesterday, the total investment in the petrochemical industry in the United States in recent years has reached 230 billion US dollars, which is an amazing data. Many China enterprises, including those present here, are now choosing to invest in the Middle East, so now the whole world market is inseparable. You have me and I have you. Whether we let foreign-funded enterprises enter China or China enterprises go abroad, Chinese and foreign enterprises will cooperate with each other. This is the way to be king in the future.

　　You Feifeng: In the development of Huafeng for many years, it also relies on the introduction of some technologies from BASF and Kostron in China and the investment from their factories in China, which has provided us with some very stable help in the supply of raw materials for upstream resources.

　　In this process, Huafeng has sold some of our own products to BASF and Costron through years of development and some breakthroughs in its own products. Therefore, in the layout of the whole industrial chain, everyone is in a very high degree of cooperation and a state of common development and sharing development with all parties in the upstream and downstream of the industrial chain.

　　Lei Huanli, President of Kostron China: I think we are very happy from Kostron or myself, that is to say, we will continue to open wider to the outside world.

　　Second, I said that this openness is an ideological openness. This ideological openness is how to make these partners in each value chain stronger. We should do our duty as local residents or citizens. That responsibility means that we have some good practices and practices that we can learn from. We are willing to discuss with all partners in the value chain. This concept, which goes back to our company, is sustainable development. We should pay enough attention to the respect of resources, because resources are owned by everyone, shared by all and the earth, and we can’t squander them at will.

　　If we can work together and do this thing well together, I think it will be very, very good As a multinational company, we are deeply involved in this market. When we regard ourselves as a local market, we actually have this responsibility. We are also willing to fulfill this obligation and do this with our partners or with the government.

　　Yu Feng, Chairman of Honeywell China: Because Honeywell itself is a company with a sales volume of US$ 40 billion and a market value of more than US$ 100 billion, it has a large business in the world. We have some experience in so many businesses, and we also have many lessons, experiences and lessons to tell us. If an enterprise wants to be sustainable in a market, it must make use of its own advantages and the advantages of local partners, so win-win cooperation is the long-term direction in the future.

　　Second, there is another important method, that is, innovation. No matter how the value chain changes in the future, we must have our own original technology and depth. We must firmly believe that only depth will make this enterprise have a high level. Innovation costs money, and innovation needs lasting investment.

　　Therefore, my third suggestion must be management. We have some original inventions in the world ten years ago, and the market share in China is zero. Why? It’s not that the technology is bad, but that the price is too high and the cost is too high. Our cost is higher than the price that our customers in China can accept. So what should we do? Through management, these technologies have been localized and cooperated with local suppliers, and the cost has been greatly reduced. Therefore, these technologies have experienced triple-digit growth in China in the past few years. Therefore, as management requires efficiency, after improving efficiency, it will be fed back to our research and development and our innovation.

Text/Wang Xiaohong, Deputy Director of Information Department of China International Economic Exchange Center; Xie Lanlan, Strategy Department of China International Economic Exchange Center; Guo Xia, postdoctoral fellow, Information Department, China International Economic Exchange Center.

Technology trade can effectively combine and utilize global advanced technologies to improve innovation efficiency and reduce the cost and risk of independent research and development. It is an important way for developing countries to realize technological innovation and industrial leapfrog development, and it also runs through the whole process of China’s opening up, independent innovation and industrial development. In the early days of the founding of New China, China established a complete industrialization system with the technology import strategy as the core. Since the reform and opening up, China has actively integrated into the global industrial chain, supply chain and innovation chain, especially through large-scale technology introduction, digestion and absorption, the innovation ability has greatly jumped, and key core technologies in some fields have been obtained, which has significantly improved the industrial competitiveness and trade competitiveness, and achieved a historic leap from a technologically backward country to a world innovation power. Technology trade has played an important role in promoting the upgrading of industrial structure, expanding enterprise technology accumulation, enhancing independent innovation ability and cultivating new economic kinetic energy, and has become a propeller and accelerator for building an innovative country. However, compared with developed countries, there is still a big gap in China’s technical level, especially in the core key technical fields, and the ability of independent innovation is relatively weak, so it is still very important to implement the technology trade strategy. At present, a new round of scientific and technological revolution and industrial revolution are changing with each passing day, and open innovation cooperation has become an inevitable trend of global technological innovation and development. Therefore, it is of great significance to continue to play the role of technology trade in promoting independent innovation, continuously improve the quality of technology introduction and expand the scale of technology export, so as to enhance technological innovation capability, promote industrial upgrading and service trade development, and thus promote high-quality economic development.

I. Characteristics and Problems of China’s Technology Trade Development since the Thirteenth Five-Year Plan

Since the "Thirteenth Five-Year Plan", China has deeply implemented the innovation-driven strategy, the technology trade has developed steadily, the structure has been continuously optimized, the scale of technology trade has continued to expand, trading partners have spread all over the world, the trade methods have become more diversified, and the market dominant position of private enterprises has been rising. However, China’s technology trade market, especially the import of core technologies, is highly dependent on developed countries, and the "shortcomings" such as small-scale export of intellectual property rights and unbalanced regional technology introduction are still outstanding.

(A) the main characteristics of China’s technology trade development since the 13th Five-Year Plan

1. Strong growth in technology exports and steady growth in imports. From 2016 to 2019, China’s technology trade volume increased from 54.228 billion US dollars to 67.338 billion US dollars, with an average annual growth rate of 7.48%, including export growth rate of 11% and import growth rate of 4.63%. In 2019, the scale of trade, export and import were 1.88 times, 12.58 times and 1.05 times that of 2011, respectively. Due to the rapid growth of export scale, the technology trade deficit decreased from $7.228 billion in 2016 to $3.064 billion.

2. Technology import is "softened", and intellectual property import becomes the main way. China’s technology import mode has changed from "hard" to "soft", which indicates that the "gold content" of technology import has been continuously improved. From 2017 to 2019, the proportion of China’s technology fees to technology imports was 97.44%, 97.23% and 89.30% respectively; Among them, the import of intellectual property rights (patented technology, proprietary technology and trademark license) dominated the technology import, accounting for 65.63%, 68.46% and 60.32% respectively; Followed by technical consultation and technical services, accounting for 21.05%, 16.19% and 29.07% respectively; The third is computer software, accounting for 7.24%, 10.98% and 2.27% respectively. From a practical point of view, M&A is an important route for Chinese enterprises to acquire key core technologies in recent years. In the case of long-term technology research and development, high risk, high investment and difficulties in introducing core technologies, overseas mergers and acquisitions can effectively avoid foreign technical barriers, enable enterprises to master core technologies in a short time, and form strong technical strength and innovation ability. According to the statistics of Morning Post M&A, in recent years, obtaining technical targets is the most important goal of overseas M&A of Chinese enterprises. In 2018, the overseas advanced technology mergers and acquisitions of Chinese enterprises in manufacturing, TMT (technology, media and telecommunications) and medical and health industries accounted for 15.85%, 15.65% and 10.98% respectively.

3. Technology export is mainly based on technical consultation and technical services, which is the main source of surplus in technology trade. From 2017 to 2019, the proportion of technical consulting and technical services in technology export was 68.20%, 62.85% and 69.33% respectively, followed by computer software export, accounting for 16.23%, 8.82% and 7.42% respectively. Technical consultation and technical services are the largest surplus items in technology trade, with the surplus of 8.251 billion US dollars, 12.428 billion US dollars and 12.047 billion US dollars in 2017-2019 respectively. Secondly, the export of computer software, with a surplus of $1.411 billion in 2019, shows that China’s export competitiveness is rising by undertaking international software and information technology outsourcing, especially the development of new generation information technology such as artificial intelligence, big data, mobile internet and cloud computing, which is promoting the transformation and upgrading of information technology service outsourcing enterprises, and its scale strength is constantly increasing.

4. The technology trade market is still dominated by foreign-funded enterprises, and domestic-funded enterprises are on the rise. Foreign-funded enterprises have always occupied an absolute dominant position in China’s technology trade. From 2017 to 2019, foreign-funded enterprises accounted for 69.10%, 72.02% and 53.10% of technology imports, and 70.29%, 60.53% and 58.75% of technology exports, respectively. It shows that foreign-funded enterprises are still the main support of China’s technology trade and the important driving force of technology innovation, and their technology spillover effect still has an important impact on China’s technology innovation ability. It also shows that China’s increasingly optimized business environment is attractive to foreign-funded high-tech enterprises. At the same time, the share of domestic-funded enterprises in technology trade has gradually increased, indicating that the endogenous power of China’s technology trade has been continuously enhanced. In 2019, the proportion of state-owned enterprises, collective enterprises and private enterprises in technology imports totaled 38.25%, an increase of 13.54 percentage points compared with 24.71% in 2017; The proportion in technology exports totaled 37.19%, up 12.38 percentage points from 24.81% in 2017. And in 2018, the R&D intensity of domestic-funded enterprises was 1.3%, which was 0.3 percentage points higher than that of foreign capital, indicating that the continuous improvement of innovation ability of domestic-funded enterprises led to the growth of technology exports.

It is noteworthy that private enterprises have become an important market subject of China’s technology trade after foreign-funded enterprises. From the perspective of technology import, in recent years, private enterprises have continuously increased their efforts in technology import through transnational mergers and acquisitions, purchasing patented technology, strengthening technical cooperation with foreign enterprises and institutions, etc. From 2017 to 2019, the proportion of technology import of private enterprises was 16.72%, 15.92% and 17.67% respectively, reflecting that private enterprises have achieved remarkable results in technology upgrading through technology introduction. From the perspective of technology export, private enterprises have surpassed state-owned enterprises. From 2017 to 2019, the proportion of private enterprises in technology export was 15.50%, 16.78% and 15.35% respectively. The introduction of technology has promoted private enterprises to increase R&D investment. In 2018, the full-time equivalent of R&D personnel and the internal expenditure of R&D funds in private enterprises accounted for one-third of all types of industrial enterprises in China, showing an increasingly strong ability to digest and absorb innovation and gradually narrowing the technological gap with multinational companies and state-owned enterprises.

The technology trade market is mainly concentrated in developed countries and regions, and the United States is still the largest trading partner. At present, China has established technical and trade ties with more than 130 countries around the world, but it is highly concentrated in the developed economies of the United States, Europe and Japan and remains basically stable. In 2019, the top ten sources of technology imports in China were the United States, Japan, Germany, Russia, Sweden, South Korea, Switzerland, Hong Kong, China, Taiwan, China and Italy, accounting for 87.28% of China’s technology imports, accounting for 87.28% of China’s technology imports, of which the total technology imports from the United States, Japan and Germany accounted for 56.15%. In 2019, the top ten technology export destinations were the United States, Hong Kong, China, United Arab Emirates, Japan, Germany, Sweden, Bangladesh, Singapore, South Korea and British Virgin Islands, which accounted for 71.30% of China’s technology export. The United States has always been China’s largest technology import country and export destination country. From 2017 to 2019, China’s technology imports to the United States accounted for 33.57%, 34.74% and 24.03% respectively, and its technology exports to the United States accounted for 22.22%, 30.83% and 17.62% respectively. In 2019, both bilateral technology imports and exports fell sharply due to trade friction. It is noteworthy that the "Belt and Road" has gradually become an important emerging market for China’s technology export. Among the top ten destinations of China’s technology export in 2019, the United Arab Emirates, Bangladesh and Singapore all belong to countries along the route.

It should be emphasized that the three major economies of the United States, Europe and Japan have a high degree of overlap in China’s technology import and export market. On the one hand, it shows that the technology gap between China and developed economies is narrowing, and the technology division of labor is gradually developing from vertical division of labor to horizontal division of labor. For example, the phenomenon of patent cross-licensing between China’s information technology enterprises and multinational companies in developed countries is more and more confirmed. At the same time, we should also see that the technology trade between China and developed countries is still based on comparative advantages. China mainly imports core technologies and intellectual property rights from developed countries, while exports mainly non-core technologies such as technical consulting and services, such as professional technology, software and computer services, etc., and there are obvious gaps in technological advancement and added value. For example, China is the fourth largest importer of intellectual property rights in the world. In 2018, China’s intellectual property royalties paid to the United States accounted for 1/4 of the foreign intellectual property royalties in that year, accounting for 1/6 of the US intellectual property royalties in that year. From 2011 to 2018, the royalties paid by China to the United States increased from $3.46 billion to $8.64 billion, with an average annual growth rate of 13.97%.

6. Technology import is mainly based on manufacturing industry, and technology export is mainly based on service industry. From the perspective of technology import, transportation equipment, communication equipment, computers and other electronic equipment, chemical raw materials and products, general equipment, special equipment, electrical machinery and equipment, medicine and other manufacturing industries are the main industries of China’s technology import. From 2017 to 2019, the manufacturing industry accounted for 8 seats in the top ten technology import industries, and the total import value of manufacturing technology accounted for 78.28%, 76.97% and 63.85% respectively, indicating that foreign technology is still an important source for China’s manufacturing industry to acquire advanced technology and realize technology upgrading. From the perspective of technology export, the service industry is dominant. From 2017 to 2019, the top ten technology export industries include professional technology, software, research and development, computer services and other service fields, and the total proportion of technology exports in these four fields is 51.72%, 53.68% and 53.25% respectively, indicating that service exports mainly based on international service outsourcing are the main sources of technology exports. In addition, technology exports mainly involve manufacturing fields such as communication equipment, computers and other electronic equipment, medicine, chemical raw materials and chemicals, special equipment and transportation equipment. From 2017 to 2019, the total proportion of manufacturing technology exports was 33.61%, 17.80% and 23.78%, respectively, indicating that these fields improved their innovation ability through technology import and promoted the development of technology exports.

7. Technology-based foreign investment and utilization of foreign capital develop in both directions, and the ability to comprehensively apply domestic and foreign technology markets and resources is enhanced. In terms of foreign investment, the establishment of overseas R&D institutions and science parks is an important channel for Chinese enterprises to integrate into the global innovation chain and combine global talents, technology and information through open innovation. More and more enterprises seek technical resources for transnational mergers and acquisitions or set up overseas R&D institutions to quickly master core key technologies. According to statistics, by 2017, only high-tech zone enterprises had set up 994 overseas R&D institutions. For example, setting up R&D centers and production R&D bases overseas has become an important part of the globalization strategy of Chinese automobile enterprises. In terms of utilizing foreign capital, the relaxation of China’s foreign capital market access policy and the continuous improvement of the domestic business environment have promoted the rapid growth of high-tech foreign capital. In 2019, the absorption of foreign capital in China’s high-tech service industry increased by 44.3%, of which the absorption of foreign capital in information transmission, software and information technology services, scientific research and technology services increased by 29.4% and 68.4% respectively. The R&D investment of multinational corporations in China is increasing. At present, there are more than 2,000 regional headquarters and R&D centers invested by multinational corporations in China, including more than 1,800 foreign R&D centers recognized by the state.

(B) the main problems in the development of China’s technology trade

1. The core technology is highly dependent on developed countries, which leads to frequent economic and trade frictions.

In the past two years, the United States and other developed countries have been blocking China’s technology on the grounds of intellectual property protection and safeguarding national security, and have been launching intellectual property trade frictions, especially increasing the difficulty and cost of introducing core key technologies and cutting-edge technologies into China. In the Sino-US economic and trade friction, the scope of China’s high-tech enterprises and institutions listed by the United States on the list of export control entities is constantly expanding, and at the same time, restrictive measures such as imposing tariffs on the import of high-tech products in China are strengthened. For example, a new generation of information technology, new energy vehicles, aviation products, high-speed rail equipment, high-performance medical equipment, biomedicine, new materials, agricultural machinery and equipment and industrial robots. In addition, there are more and more obstacles for Chinese enterprises to acquire high-tech enterprises in the United States. In February 2020, the United States officially came into effect two laws and regulations to reform the national security review system for foreign investment and strictly control the loss of intellectual property rights of key technologies. Japan is also considering the scope of high-tech export control, focusing on the next generation technology used in artificial intelligence and robots.

2. The export scale of intellectual property rights does not match China’s status as an innovative power.

China has become one of the largest intellectual property countries in the world. By 2019, the number of domestic invention patents was 1.862 million, and the number of invention patents per 10,000 population was 13.3. According to the statistics of the World Intellectual Property Organization (WIPO), in 2019, China has ranked first in the number of patent applications in the world for nine consecutive years, and the number of international patent applications has surpassed that of the United States for the first time, ranking first in the world. However, the situation of more peripheral patents and fewer core patents has led to the small-scale export of intellectual property rights in China, but it has to pay a high amount of intellectual property royalties. From 2017 to 2019, China’s intellectual property exports accounted for 11.56%, 15.60% and 11.35% of technology exports, while intellectual property imports accounted for 65.63%, 68.46% and 60.32% of technology imports in the same period, with trade deficits as high as $18.246 billion, $18.271 billion and $17.584 billion respectively. On the one hand, it shows that developed economies still occupy the dominant position in global technological innovation, on the other hand, it also reflects that China has not paid enough attention to the export strategy of intellectual property rights.

3. The regional distribution of technology introduction is seriously unbalanced.

There is a positive relationship between the difference of regional technology trade level and the level of economic development in China. Due to the high level of economic development in the eastern region, the advantages of high-tech industries are obvious, and technology trade also has an absolute advantage. In 2018, the proportion of technology imports in the eastern, central, western and northeastern regions was 64.53%, 8.79%, 19.40% and 7.28% respectively. The unbalanced spatial distribution of technology introduction means the gap between the eastern region and the central and western regions in terms of new technology acquisition, digestion, absorption and industrial application, which is bound to further widen the gap in technological innovation between regions, thus affecting the ability of central and western regions to undertake industrial transfer and independent innovation.

4. There is still much room for improvement in technology introduction, digestion, absorption and re-innovation of domestic enterprises.

The technology introduction of domestic enterprises has always been lower than that of foreign-funded enterprises. From 2017 to 2019, the proportion of domestic-funded enterprises ③ technology import was 30.9%, 27.98% and 46.9% respectively. This situation may bring some negative effects. For example, some foreign-funded enterprises control technology for the sake of maintaining and consolidating the competitive position in the market, and only transfer it within the company, thus reducing the technology spillover effect. At the same time, the digestion, absorption and re-innovation ability of domestic-funded enterprises is about 1 times lower than that of foreign-funded enterprises. In 2018, the average R&D investment expenditure of industrial enterprises was 3,106,100 yuan for domestic enterprises and 6,231,300 yuan for foreign-funded enterprises; The average full-time equivalent of R&D personnel is 7.04 person/year for domestic-funded enterprises and 13.42 person/year for foreign-funded enterprises. Therefore, domestic-funded enterprises should increase the intensity of technology introduction, and at the same time accelerate technology transformation and enhance innovation ability by increasing R&D investment and improving R&D efficiency.

Second, technology trade promotes China’s technological innovation capability and industrial competitiveness.

Through the practice of Chinese enterprises, the mutual promotion relationship between technology trade, technology innovation and industrial competitiveness can be confirmed. Enterprises have the basis of imitation and innovation by introducing technology. In order to achieve digestion, absorption and innovation in a short period of time, they usually increase investment in R&D, accumulate technology stock in R&D, and enhance their technological innovation ability. At the same time, new technologies have also intensified competition in the domestic market, stimulated enterprises that have not introduced technology to increase investment in research and development, and promoted the overall technological capability of the industry, thus promoting industrial upgrading and competitiveness.

(A) technology trade to promote China’s technological innovation ability.

In July 2019, the World Intellectual Property Organization (WIPO) released the Global Innovation Index Report for 2019, which showed that China ranked 14th among 129 economies, and was the only country among middle-income economies to enter the top 30, showing its outstanding innovation strength in patents, industrial designs, the number of trademarks, the export of high-tech and creative products. In 2019, the number of international patent applications in China increased by 11% to 58,990, surpassing the United States for the first time, and the level of innovation investment in China is far lower than that of high-income economies such as the United States, Germany, Britain, Finland and Israel, which is closely related to the way of introducing digestion, absorption and innovation. This paper analyzes the top ten industries of China’s technology import from 2017 to 2019, including eight types of manufacturing. It can be seen that both traditional manufacturing and emerging industries have a consistent dynamic innovation path, that is, technology introduction → increased R&D investment → improved technical level → improved innovation ability.

1. Enterprise technology import has obvious positive effect on the growth of R&D investment.

From the R&D expenditure from 2012 to 2018, it can be found that these eight types of manufacturing industries have maintained steady growth year by year. After 2014, the R&D expenditures of eight types of manufacturing industries all exceeded 10 billion yuan. In 2018, except for the food manufacturing industry, the R&D expenditures of the other seven manufacturing industries all exceeded 40 billion yuan, followed by the communications equipment, computer and other electronic equipment manufacturing industries, electrical machinery and equipment manufacturing industries, with R&D expenditures reaching 227.99 billion yuan and 132.01 billion yuan respectively, accounting for 18.2% and 10.6% of the R&D expenditures of all manufacturing industries in that year. From 2012 to 2018, the investment intensity of R&D funds in eight types of manufacturing industries generally increased, indicating that the introduction of technology directly or indirectly stimulated enterprises to carry out technological innovation. Among the eight types of manufacturing industries, the top two enterprises’ R&D expenditure intensities in 2018 were transportation equipment and special equipment manufacturing, which reached 3.38% and 2.43% respectively, increasing by 1.2 percentage points and 0.95 percentage points respectively compared with 2012. In 2018, except for the food manufacturing industry, the investment level of R&D funds in the other seven types of manufacturing industries exceeded the average level of industrial enterprises and all manufacturing industries in that year.

2. Enterprise technology introduction has obvious positive effect on promoting the growth of invention patents.

Invention patent is the core index to measure technological innovation ability. From 2012 to 2018, the number of effective invention patents in eight manufacturing industries showed a significant increase. Among them, communication equipment, computer and other electronic equipment manufacturing industries had the largest number of effective invention patents, followed by electrical machinery and equipment manufacturing industries. During the period from 2012 to 2018, the total number of invention patents accounted for about 40% of the regulated industrial enterprises. In 2018, the number of valid invention patents in eight manufacturing industries increased significantly, including 300,369 in communication equipment, computer and other electronic equipment manufacturing, 136,014 in electrical machinery and equipment manufacturing, and 97,839 in special equipment manufacturing, which were 3.6 times, 4.3 times and 4.5 times respectively in 2012. There are 78,731 general equipment manufacturing industries, 61,451 chemical raw materials and products manufacturing industries and 45,766 pharmaceutical manufacturing industries, which are 3.4 times, 3.7 times and 3 times that of 2012 respectively; There are 33,164 transportation equipment manufacturing industries and 10,906 food manufacturing industries, which are 5 times and 4.6 times that of 2012 respectively.

From the three traditional manufacturing fields of transportation equipment, medicine and food. Since 2001, the number of patent applications and authorizations for three types of manufacturing industries has increased rapidly. Among them, the number of invention patent applications increased from 917, 4,060 and 984 in 2001 to 69,516, 69,785 and 39,215 in 2019 respectively; In 2001, the number of invention patents granted to the three types of manufacturing industries was zero, and it increased to 20,427, 21,072 and 5,716 respectively in 2019. The average growth rates from 2002 to 2019 were 65.2%, 41.6% and 33% respectively. In 2019, the number of invention patents granted in the transportation equipment manufacturing industry was equivalent to 4.7 times in 2010 and 5,106.8 times in 2002; The number of invention patents granted in pharmaceutical manufacturing industry is equivalent to 2.1 times in 2010 and 369.7 times in 2002; The number of invention patents granted in food manufacturing industry is equivalent to 2.3 times in 2010 and 127 times in 2002. It can be seen that the three types of traditional manufacturing industries have successfully achieved digestion and absorption through technology introduction, and their independent innovation ability has been greatly improved.

From the telecom, radio and television satellite transmission services and computer software two information technology services. From 2001 to 2019, the number of invention patent applications in telecommunications, radio and television satellite transmission services increased from 1,176 to 23,620, with an average annual growth rate of 18.1%; The number of invention patents granted has increased from 0 to 11,521, with an average growth rate of 73.3% from 2002 to 2019. The number of invention patents granted in 2019 is equivalent to 1.7 times that in 2010 and 11,521 times that in 2002. From 2001 to 2019, the number of computer software copyright registrations in China increased rapidly, with only 6,948 in 2001, 81,900 in 2010 and 1,484,400 in 2019, with an average growth rate of 34.7% from 2001 to 2019. The number of registrations in 2019 was equivalent to 18.1 times that in 2010 and 213.7 times that in 2001.

3. Enterprise technology introduction has obvious positive effect on promoting overseas patent growth.

From the perspective of food chemistry, medicine and computer technology industries, the number of overseas patents granted in the three industries increased significantly from 2003 to 2018, from 4, 37 and 27 in 2003 to 87, 764 and 3553 in 2018, with the average annual growth rates of 22.8%, 22.4% and 38.4% respectively. Among them, the number of overseas patents granted for computer technology in 2018 was equivalent to 7 times in 2010 and 131.6 times in 2003; The number of overseas patents granted for food chemical technology is equivalent to 8.7 times in 2010 and 21.8 times in 2003; The number of overseas patents granted for medical technology is equivalent to 4.6 times in 2010 and 20.6 times in 2003.

From the perspective of digital communication industry, the number of overseas patents granted in China’s digital communication industry increased from 1 to 475 from 2000 to 2010, with an average annual growth rate of 85.2%, but the absolute number was lower than that of the United States (4,368), Japan (2,747), South Korea (1,437), France (853), Germany (921) and Sweden. Since 2011, the scale of patent authorization in China’s digital communication industry has increased significantly. From 2011 to 2018, the average annual growth rate of China’s overseas patent grants was 33.8%, while the average annual growth rates of France, Germany, Japan, South Korea, Sweden and the United States were 5.4%, 5%, 4.8%, 15.8%, 15.8% and 8.2% respectively. In 2018, the number of overseas patents granted in China’s digital communication industry was 5,148, equivalent to 10.8 times that in 2010, and it has surpassed France (1,400), Germany (1,225), Japan (4,517), South Korea (4,867) and Sweden (2,843), second only to the United States (8,943).

(B) technology trade to promote industrial export competitiveness.

1. Technology introduction has promoted the growth of product export scale.

From the perspective of eight manufacturing industries in the top ten industries of technology introduction, according to the data of the National Bureau of Statistics, from 2003 to 2019, the total proportion of eight manufacturing industries in export delivery value increased from 51% to 70% in export delivery value. From 2003 to 2019, the average annual growth rate of export delivery value, a listed industrial enterprise in China, was 9.82%, while among the eight manufacturing industries, except transportation equipment manufacturing (4.88%), chemical raw materials and chemical products manufacturing (9.81%), the average annual growth rate of export delivery value in the other six manufacturing industries was higher than the average. Special equipment manufacturing (15.65%), communication equipment, computers and other electronic equipment manufacturing (12.71%), general equipment manufacturing (12.52%), electrical machinery and equipment manufacturing (11.69%), pharmaceutical manufacturing (10.18%) and food manufacturing (9.92%) in turn. From the perspective of export delivery value, in 2019, communication equipment, computer and other electronic equipment manufacturing industry (5605.38 billion yuan), electrical machinery and equipment manufacturing industry (1143.9 billion yuan) and general equipment manufacturing industry (547.7 billion yuan) ranked in the top three, equivalent to 1.5 times, 1.2 times and 1.4 times that of 2011 respectively, equivalent to 6.8 times and 5 times that of 2003. Special equipment manufacturing industry (346.09 billion yuan), chemical raw materials and chemical products manufacturing industry (380.2 billion yuan), equivalent to 1.5 times and 1.1 times respectively in 2011.10.2 times and 4.5 times that of 2003; The transportation equipment manufacturing industry (200.48 billion yuan), pharmaceutical manufacturing industry (141.63 billion yuan) and food manufacturing industry (109.8 billion yuan) are equivalent to 0.3 times, 1.4 times and 1.3 times in 2011 and 2.1 times, 4.7 times and 4.5 times in 2003 respectively.

2. Technology introduction promotes the export growth of high-tech products.

From the perspective of China’s high-tech products trade, the scale of import and export of high-tech products has generally maintained a synchronous growth trend from 2001 to 2019. Since 2004, the export volume of high-tech products has exceeded the import volume. In 2019, the export volume of high-tech products reached 730.75 billion US dollars, equivalent to 1.5 times that of 2010 and 15.7 times that of 2001. There is a "same frequency resonance" effect between the export and import of high-tech products. That is, the higher the export/import ratio of high-tech products, the greater the driving effect of imports on exports. Since 2005, the export/import ratio of high-tech products in China has been above 1.10, reaching 1.20 in 2008, 2009 and 2014, and 1.15 in 2019. Among them, the export/import ratio of high-tech products in the field of computer and communication technology is the highest, increasing from 2.94 in 2005 to 4.02 in 2019.

From the main business income and new product export of electronic and communication equipment and pharmaceutical manufacturing industry. Technology introduction has promoted the industrial scale and export competitiveness. From 2000 to 2018, China’s technology import fees for electronic and communication equipment and pharmaceutical manufacturing industry totaled 121.79 billion yuan and 9.52 billion yuan respectively. From 2000 to 2018, the main business income of China’s electronic and communication equipment manufacturing industry and pharmaceutical manufacturing industry increased from 587.12 billion yuan and 162.75 billion yuan to 9,863.4 billion yuan and 2,391.8 billion yuan respectively, with an average annual growth rate of 17% and 16.1% respectively; The export sales revenue of new products increased from 39.9 billion yuan and 1.52 billion yuan to 1,523 billion yuan and 48.72 billion yuan respectively, with an average annual growth rate of 22.4% and 21.2% respectively. In 2018, the main business income of electronic and communication equipment manufacturing industry was equivalent to 2.7 times that of 2010 and 16.8 times that of 2000 respectively; The income from the main business of pharmaceutical manufacturing industry is equivalent to 1.7 times in 2010 and 14.7 times in 2000. In 2018, the export sales revenue of new products of electronic and communication equipment manufacturing industry was equivalent to 3.6 times that of 2010 and 38.2 times that of 2000 respectively; The export sales revenue of new products in pharmaceutical manufacturing industry is equivalent to 2.7 times in 2010 and 32.1 times in 2000 respectively. At present, China has become the global manufacturing center of consumer electronic products, in which mobile phones and computers account for more than 90% of the global total output.In 2018, the revenue of communication system equipment manufacturing industry increased by 14.6% year-on-year, 15.7 percentage points higher than the global growth rate, and the sales of integrated circuits increased by 20.7% year-on-year, 4.8 percentage points higher than the global growth rate.

Third, the development prospect of China’s technology trade

With China’s continuous opening to the outside world, the ability of independent innovation has been continuously enhanced, and the development prospect of technology trade has become broader and broader.

(A) technological innovation and industrial upgrading requirements will promote the quality of technology trade.

From the perspective of innovation investment, China’s R&D investment intensity has increased from 0.6% in 1996 to 2.2% in 2019. Although it is still lower than the technology and trade powers such as the United States, Japan and Germany, it is higher than the average level of developed countries such as Britain and Italy and the European Union. From the perspective of innovation output, China ranks second in the world in terms of the total number of international scientific and technological papers and the number of citations, and ranks first in the world in terms of the number of invention patent applications and authorizations. Many new technologies, new materials, core components and major equipment have come from scratch, and a series of major breakthroughs have been achieved in strategic emerging industries and cutting-edge technologies, such as high-speed rail equipment, 3D printing, artificial intelligence, quantum computing and other technologies. In recent years, a new round of scientific and technological revolution and industrial transformation, represented by a new generation of information technology, new energy, new materials and life sciences, has flourished around the world. Among them, digital technologies such as cloud computing, big data, Internet of Things, mobile Internet, artificial intelligence, blockchain, virtual reality, quantum computing, and 5G have become the most active areas of technological innovation and industrial transformation. The maturity and large-scale industrial application of these new technologies will continue to spawn new products, new models and new formats, and promote manufacturing and industry. In particular, the accelerated growth of new economic kinetic energy will promote the continuous expansion of technology import and export scale, the continuous improvement of the quality and level of technology import, and accelerate the development of technology export.

(B) "market for technology" and "technology for technology" two-wheel drive will expand the space for technology import.

On the one hand, the space of "market for technology" is getting wider and wider. China has the advantage of super-large-scale market in the world, which will provide industrialized and large-scale space for advanced technologies of all countries in the world, and has the ability to incubate and cultivate new global technologies, providing the basic conditions for "market for technology". The impact of the global COVID-19 epidemic has led to a sharp decline in the international market, accelerating the localization and regionalization of the global industrial chain and supply chain layout. To this end, according to the major changes in China’s development stage and international environment, the CPC Central Committee has put forward a new development pattern in which the domestic big cycle is the mainstay and the domestic and international double cycles promote each other. Under the new development pattern of "double circulation", the continuous release of domestic demand and the upgrading of the level will amplify the advantages of the domestic market and become an important support for the growth of technology imports. In 2019, the total retail sales of consumer goods in China was 41.2 trillion yuan, the per capita disposable income of residents was 30,733 yuan, the consumption tendency was as high as 70%, and the middle class was about 300 million. In 2019, the contribution rate of China’s consumption to economic growth was 57.8%, far below the level of more than 80% in developed countries, which means that consumption still has growth potential. On the other hand, the potential of "technology for technology" is growing. In the past, due to China’s backward technology, it mainly used the advanced technology of developed countries, and formed an obvious vertical division of labor with developed countries in the level of technical division of labor. As China has become a big country in technological innovation, its technological scale and strength have been significantly enhanced, and it has a number of international advanced technologies and a number of high-tech enterprises, and has formed international leading technologies in some fields.The pattern of technology division of labor with developed countries is constantly developing in the direction of horizontal division of labor, thus laying the foundation for new technology import modes such as patent cross-licensing.

(C) open cooperation, innovation and accelerated development will promote the diversification of technology import methods.

With the rapid development of the new scientific and technological revolution, the technical complexity is getting higher and higher, global innovation has entered the era of high-intensity research and development, and the networking of technological innovation has become increasingly obvious, and open cooperation and innovation have become the development trend. With the acceleration of China’s industrial upgrading process, the demand for high-tech will be further improved, and the global allocation of technical elements will be more diversified. In recent years, more and more scientific and technological enterprises in China have acquired key core technologies and jointly developed world-leading technologies through cross-border mergers and acquisitions, cross-border strategic alliances, overseas R&D centers, joint ventures and cross-shareholdings. However, with the strict review system of foreign technology mergers and acquisitions in developed economies such as the United States and the European Union, it will be more difficult for Chinese enterprises to acquire advanced technology through international mergers and acquisitions, and they may be more dependent on other open, cooperative and innovative models. In addition, the flow of leading talents in scientific research has become an important carrier of the flow of technological elements and will become an important mode of technology introduction in China in the future. With the increasingly optimized technological innovation environment in China, the transnational mobility of scientific and technological personnel has been significantly improved, playing an increasingly important role in the introduction of advanced technologies.

(D) changes in the pattern of technological globalization will promote the diversification of China’s technology market sources.

On the one hand, the pattern of scientific and technological globalization is undergoing profound changes. Although the multinational companies in developed countries continue to maintain their technological leading edge, as emerging economies and developing countries continue to open wider to the outside world, accelerate technological accumulation, and promote global technological innovation, the globalization of technological innovation presents a new feature of the parallel development of developed and developing countries, and the comparison of global technological forces has quietly changed, and a new map of innovation activities has gradually taken shape. In 2019, there were 11 emerging economies and developing countries in the top 50 countries of global innovation. In the next 20 years, with the rise of emerging economies and developing countries, the technological innovation ability will be continuously enhanced, which will provide more channels for China’s technology import sources. On the other hand, the technical blockade and containment of China by the United States has become the core content of strategic competition, which has also prompted China to carry out innovative cooperation with technologically advanced economies such as the European Union, Japan and Israel. Hierarchically, in 2019, the European Union replaced the United States as the largest source of technology imports, accounting for more than 30%, and Japan accounted for nearly 19%. Together, they accounted for half of technology imports and may continue to expand in the future. Secondly, Israel has world-leading technologies in life sciences, mobile communication and Internet, technology and finance, artificial intelligence and robotics, automation, industrial applications, clean energy, etc., and there is great room for technical cooperation with China. Thirdly, there is great potential to strengthen technical cooperation with Russia and other BRICS countries and introduce advanced and applicable technologies. For example,Russia has maintained the international advanced level in military industry, nuclear power, aerospace, artificial intelligence and basic research, and bilateral friendly relations have provided a favorable environment for technological innovation cooperation. In 2019, the contract value of China’s technology import from Russia increased by nearly 18 times, from the 19th place in 2018 to the fourth largest source of technology import.

(V) Countries along the Belt and Road will become emerging markets for technology export.

Most of the countries along the "Belt and Road" are developing countries, providing China with a broad technology export market. With the continuous strengthening of China’s interconnection with countries along the route, the technology trade volume between China and countries along the route will also increase. In 2019, my technology export contracts with countries along the route reached US$ 7.71 billion, up 41.8% year-on-year, exceeding the overall growth rate of technology exports by 27.2 percentage points. In 2019, China’s technology export contracts with UAE reached US$ 2.44 billion, up 33 times year-on-year, making it the third largest destination for technology exports, and its technology exports with Bangladesh reached US$ 1.45 billion, up 2.1 times year-on-year. It is foreseeable that countries along the Belt and Road will become important emerging markets for China’s technology export. At present, the main fields of China’s technology export to countries along the route are concentrated in traditional industries such as agriculture, textiles, ships and automobiles. In the future, the fields of technology export will be further expanded, especially the advantageous fields such as information and communication technology, electronic equipment and service outsourcing will become important fields of technology export.

Four, to promote the high-quality development of China’s technology trade policy recommendations

At present, digital technology is leading the in-depth development of scientific and technological globalization, the barriers to the cross-border flow of technological elements are lowered, a large number of new technological achievements are emerging, and the global technology trade space is broader. The technology trade strategy of open cooperation is still an inevitable choice for China to enhance its technological innovation ability and promote the upgrading of industrial structure, and it is also an important way to break through the bottleneck of core key technologies. It is necessary to adhere to the combination of independent research and development of the advantages of the new national system and the active and promising technology introduction strategy, and "promote advantages, make up shortcomings, and build spare tires" to promote China’s independent innovation capability to a new level.

(1) Layout innovation chain based on industrial chain, supply chain and value chain, and build a mutually beneficial and win-win open innovation cooperation system.

Under the background of open economy with closely related global industries and highly complex technologies, it is difficult for any country to realize closed innovation. The interdependence between global industrial chain and supply chain is an important foundation and prerequisite for open cooperative innovation. For example, in May 2020, the US Department of Commerce allowed American companies to cooperate with Huawei to formulate 5G network standards, which objectively formed a win-win situation. Due to Huawei’s position and influence in the 5G industrial chain, American companies can’t bypass Huawei to participate in the formulation of 5G standards. The U.S. government’s crackdown on Huawei actually restricts domestic companies’ participation in the formulation of 5G standards, so they have to relax the cooperation between domestic companies and Huawei in the formulation of standards. For Huawei, the participation of the United States in the formulation of 5G standards can bring greater value to international standards. If it does not cooperate, it will cause harm to 5G standards and it will also be unfavorable to Huawei. With the accumulation of technology and the enhancement of independent research and development capability in China, technology introduction will focus more on cutting-edge technologies. With the intensification of technology competition and blockade in the big country game, the difficulty coefficient of direct purchase is increasing. Therefore, relying on the industrial chain and supply chain, we should explore new mechanisms of technical cooperation with developed economies such as the European Union, the United States, Japan and the United Kingdom, and change from the one-way traditional mode of introduction-imitation-learning to the two-way interactive innovation mode of co-creation, sharing and win-win. In addition, we should actively expand technical and trade cooperation with other countries. For example, the content of technology trade should be added in FTA negotiations, a bilateral technical cooperation framework should be signed, and in-depth cooperation should be carried out in technology research and development, technology transfer or licensing, technical consultation and services.

(2) Give full play to the advantages of being a big intellectual property country and improve the level of intellectual property trade.

Strengthening the export of intellectual property rights can not only expand the scale of service export, but also effectively promote product export. It is estimated that every $100 million of patented technology transferred from developed countries can drive the sales of complete sets of equipment and ancillary products of about $5 billion. To this end, we must vigorously implement the export strategy of intellectual property rights. We should pay attention to the cultivation of full value chain services from the creation, application and transformation of intellectual property rights, operational services to intellectual property protection. With the "softening" trend of technology trade, the technical competition among countries is increasingly reflected in the strategic competition of intellectual property rights. China should pay attention to using patent strategy to expand the export market of intellectual property rights and promote the upgrading of technology export structure. Encourage technology export enterprises to attach importance to the cultivation of intellectual property competitiveness, scientifically evaluate the value of intellectual property rights, realize the interactive development of innovation, industrial upgrading and intellectual property management, vigorously cultivate brand enterprises with independent intellectual property rights, and expand the export scale of intellectual property rights such as patents and proprietary technologies. Encourage enterprises to implement the patent network strategy to speed up the layout of overseas intellectual property rights, improve overseas intellectual property protection institutions, provide convenience for enterprises to obtain overseas patents and safeguard their rights, and help enterprises cope with overseas intellectual property risks. Second, we should strengthen the protection of intellectual property rights and optimize the technology transfer environment. China has established relatively perfect laws and regulations on intellectual property protection, and should constantly improve the early warning, supervision and law enforcement system, respond to the concerns of technical cooperation countries and multinational companies in China in a timely manner, severely crack down on infringement and illegal acts according to law, and earnestly safeguard the intellectual property rights interests of foreign-funded enterprises.Improve the intellectual property cooperation mechanism with major trading partners such as the United States, the European Union and Japan, and strengthen cooperation in intellectual property arbitration and dispute settlement. Third, we should advocate qualified enterprises and multinational companies to use patent cross-licensing. By signing patent cross-licensing with competitors, it is conducive to integrating technological advantages, eliminating intellectual property obstacles in opening up the international market, avoiding infringement litigation disputes and reducing transaction costs.

(3) Vigorously attract overseas leading talents and promote the global advanced technology transfer.

Overseas leading talents are the key elements of technology transfer. Local governments should be encouraged to increase efforts to attract overseas students to return home and overseas senior talents to work in China, and make specific arrangements on how to support studying abroad, encourage returning home and come and go freely. We will attract overseas high-tech talents through various ways, such as scientific research funding subsidies, wages and salaries, tax concessions, and stock option incentives, and increase policy support in housing placement, children’s schooling, household registration, and entry and exit convenience, so as to create good conditions for them to live and work in peace and contentment. Combine talent introduction with career development organically, so that talents can not only be attracted, but also retained, so that they can have space for innovation, platform for entrepreneurship and development, and create a group of overseas leading talents standing at the forefront of world science and technology.

(D) to further improve the technology trade platform, strengthen the construction of policy support system.

Relying on major international exhibitions such as Service Trade Fair, China International Import Expo(CIIE) and Hi-Tech Fair, we will provide enterprises with more opportunities for technical trade and international technical cooperation and exchange. Explore the establishment of technology trade markets in pilot free trade zones such as Beijing, Shanghai, Shenzhen, Xi ‘an and Nanning. Increase subsidies and tax incentives for R&D investment of enterprises, and provide more convenient qualification certification and application process. Increase support for technology export enterprises, reduce financing costs and guarantee requirements, reward software projects that help domestic enterprises to provide mature software solutions and technical support overseas, and support their product development and localization applications. Allocate special funds to support the development of technology trade in the service trade innovation and development guidance fund, and encourage local governments to set up matching funds for technology trade.

(5) Comply with the changing trend of global technical trade rules and actively participate in the construction of international technical trade rules and standards.

First, we should actively study the latest progress and trends of multilateral and bilateral trade systems and regional technical trade agreements. Advocate the theme of "development" in the WTO and oppose all forms of protectionism. At the same time, we should avoid western countries from forming a rule-making circle in digital technology to exclude China. For example, China’s digital governance models are different from those of the United States and the European Union, and there is a strong geostrategic and mode confrontation among the three models, which is difficult to unify and be compatible, so it is necessary to establish a dialogue mechanism. Second, we should advocate the principle of neutrality in the formulation of international standards related to technology trade, which is not affected by political factors in various countries, so that international standards can be widely and unanimously supported and maintain their strong vitality. Third, it is necessary to establish a mechanism with enterprises as the main body and relevant organizations participating in coordination, so as to promote China’s technical standards with advantages and characteristics to become international standards. Deepen standardization cooperation with the focus on countries along the "Belt and Road", promote mutual recognition of standards between China and countries along the route, and improve the right to speak on technical trade rules. Fourth, we should attach importance to the training of technical trade negotiators, especially professionals who are proficient in international rules of technical trade and foreign-related technical trade litigation and negotiation, and encourage them to participate in the formulation of international rules and standards in relevant international organizations.

(6) Deepen the reform of the technology trade management system and consolidate the technology innovation system combining Industry-University-Research and China.

Accelerate the transformation of government management functions, pay more attention to the role of market mechanism in the institutional supply of technological innovation, pay attention to the market-oriented allocation of innovative elements, and give play to the main role of various enterprises. Smooth the collaborative innovation mechanism between enterprises, universities, scientific research institutions and users, promote the coordinated development of large, medium, small and micro enterprises in innovation chain, improve various technical exchange and cooperation platforms, and strengthen the construction of various industrial innovation alliances.

CCTV News:The State Council Press Office held a press conference on April 19th. The relevant person in charge of the Ministry of Commerce said that it would work with relevant departments to promote digital upgrading in trade-related links, including improving customs clearance efficiency and providing more and more convenient financing support for foreign trade enterprises.

In the field of trade digitalization, the Ministry of Commerce has guided more trade entities to use electronic trade documents and promoted the interconnection between document platform enterprises. Accelerate the construction of Guangdong-Hong Kong-Macao Greater Bay Area global trade digital pilot area, and explore the docking of digital infrastructure and rules and standards, so as to accelerate the digital integration development of the whole trade chain. Cultivate leading enterprises in digital transformation, and also provide digital solutions for small and medium-sized enterprises.

Li xinggan, director of the foreign trade department of the Ministry of commerce, said: "relying on multi-bilateral platforms, we will strengthen trade digital cooperation with our trading partners and jointly explore more landing scenarios in the trade field."　

Ministry of Commerce: It is normal for data fluctuation to attract foreign investment.

Since last year, there have been some fluctuations in China’s data on attracting foreign investment. At the press conference on April 19th, the relevant person in charge of the Ministry of Commerce said that from the overall situation of global transnational investment and the situation of various economies, fluctuations in data on attracting foreign investment are normal.

In the first quarter of this year, the scale of attracting foreign investment in China exceeded 300 billion yuan. In the same period last year, the scale of attracting foreign investment in China reached the highest level in the history of quarterly investment, and it declined in the first quarter of this year. There are indeed factors affected by the high base. In addition, in the first quarter of this year, the number of newly established foreign-funded enterprises in China reached 12,000, a year-on-year increase of 20.7%, continuing the trend of rapid growth of newly established enterprises since last year.

Ji Xiaofeng, head of the Foreign Investment Management Department of the Ministry of Commerce, said that there is usually a process for foreign investment from project signing, company registration to completion and production. In this process, foreign capital will continue to be invested with the progress of project construction, so data fluctuations are also common.

Ministry of Commerce: China’s investment structure continued to be optimized in the first quarter of this year.

According to the relevant person in charge of the Ministry of Commerce, in the first quarter of this year, the actual use of foreign capital in China’s manufacturing industry reached 81.06 billion yuan, of which the investment in high-tech manufacturing industry reached 37.76 billion yuan, accounting for 2.3 and 2.2 percentage points higher than that in the same period of last year, and the investment in medical equipment manufacturing industry increased by 169.7% year-on-year, which fully demonstrated the continuous optimization of China’s investment structure.

At the same time, the person in charge also said that a comprehensive analysis of the situation of attracting foreign investment in China should not only look at the changes in the scale of attracting foreign investment, but also see the optimization of the structure of attracting foreign investment and its future development prospects.

Ministry of Commerce: China deepens national economic and trade cooperation with the Belt and Road Initiative.

At the press conference, the relevant person in charge of the Ministry of Commerce introduced that since the beginning of this year, China has continuously deepened its economic and trade cooperation with the "Belt and Road" countries and achieved some new progress and new results.

In the first quarter, the import and export of goods between China and co-construction countries exceeded 4.8 trillion yuan, up 5.5%, 0.5 percentage points higher than the overall growth rate of foreign trade, accounting for 47.4% of the total import and export.

From the perspective of export commodities, there are high-tech products such as electronic information, instruments and equipment manufacturing, which are closely related to the production of enterprises, as well as consumer goods such as household appliances and clothing that meet the needs of people’s livelihood.

From the perspective of imported goods, China and the co-construction countries actively share the opportunity of China’s big market. In the first quarter, the energy and mineral products, integrated circuits, auto parts and other industrial products imported from the co-construction countries continued to grow.

In the first quarter, China’s non-financial direct investment in co-construction countries reached 54.32 billion yuan, up 12%, accounting for 22.4% of the total foreign investment in the same period. From the perspective of investment, investment in RCEP member countries increased by 33.5%, and investment in Central and Eastern European countries increased by 41.3%, both of which were significantly higher than the overall growth rate.

Yang Tao, director of the Comprehensive Department of the Ministry of Commerce, said that in terms of exhibition platform, the just-concluded 4th Consumer Expo and the first phase of the 135th Canton Fair attracted a large number of merchants from countries with the Belt and Road Initiative, and the number of buyers from countries with the Belt and Road Initiative participating in the Canton Fair increased by 46%. In the import sector of the Canton Fair, the proportion of exhibitors from countries with the Belt and Road Initiative reached 64%.

Ministry of Commerce: I am confident to achieve the goal of "stable quality and quantity increase" in foreign trade this year.

At the press conference, the relevant person in charge of the Ministry of Commerce introduced that looking forward to the next stage of foreign trade situation, there are both opportunities and challenges in general. The Ministry of Commerce is working with all localities and departments to study and launch a series of targeted, pragmatic and effective measures to stabilize foreign trade.

The opportunity is that the domestic economy is picking up and the foundation is constantly consolidating. In the first quarter, the national economy grew by 5.3%, and the added value of industrial enterprises above designated size increased by 6.1%, which provided a solid foundation for China to consolidate its foreign trade base.

The company’s expectations continue to improve and its confidence continues to increase. In March, the Purchasing Managers Index (PMI) of China’s manufacturing industry reached 50.8%, returning to the expansion range. Recently, a questionnaire survey was conducted among more than 20,000 exhibitors in the Canton Fair. The survey results show that the proportion of enterprises whose orders have increased or remained flat has reached 81.5%, an increase of 16.8 percentage points over the previous session. Enterprises are relatively optimistic about the order situation and are more enthusiastic about exploring the international market.

Key industries have stabilized and improved, and their motivation has been continuously enhanced. After a two-year down cycle, the trade of main products in the electronic information industry is gradually recovering. In the first quarter, China’s integrated circuits increased by 24.2%, imports increased by 14.3%, and exports of computers and parts increased by 8.6%, which also showed the ability of supporting and integrating China’s industries.

From the perspective of challenges, the growth of external demand is expected to slow down. Recently, the WTO released a global trade outlook and statistical report, in which the growth rate of goods trade in 2024 was lowered to 2.6%, which was 0.7 percentage points lower than the forecast value in October last year. In addition, the risk of geopolitical conflict has increased, the momentum of trade protectionism has risen, and the interference and difficulty faced by enterprises in opening up markets have increased.

Guo Tingting, Vice Minister of Commerce, said that at present, the Ministry of Commerce, together with various localities and departments, is working hard to study and launch a series of targeted, pragmatic and effective measures to stabilize foreign trade to help foreign trade enterprises enhance their motivation and open up markets. The Ministry of Commerce is confident and capable of achieving the goal of "stable quality and quantity increase" in foreign trade this year.

Ten departments, including the Ministry of Commerce, jointly issued the Measures to further support overseas institutions to invest in domestic science and technology enterprises.

The reporter learned from the Ministry of Commerce on April 19th that the Ministry of Commerce, the Ministry of Foreign Affairs, the National Development and Reform Commission and other ten departments have recently jointly issued policies and measures to further support overseas institutions to invest in domestic science and technology enterprises.

Clear policies and measures to support overseas institutions to invest in domestic science and technology enterprises through qualified overseas limited partners. It is clear that the establishment of venture capital funds in China by overseas institutions is treated equally with domestic venture capital funds. Encourage overseas institutions to cooperate with relevant domestic institutions to set up relevant funds, and support technology-based enterprises invested by overseas institutions to deepen industrial chain cooperation with relevant countries. According to the tax treaties signed between China and relevant countries, qualified overseas institutions can enjoy preferential income tax when investing in listed companies in China.

Ministry of Commerce: Three areas of innovation are full of vitality and have sustainable growth potential.

On April 19th, the State Council Press Office held a press conference, and the relevant person in charge of the Ministry of Commerce introduced that in recent years, China’s export structure has been optimized and upgraded. In the first quarter of this year, three areas were full of innovation vitality and had potential for sustained growth: first, the export base of complete sets of equipment was solid; second, the export demand of smart products increased; and third, low-carbon energy-saving and environmental protection products were very popular.

Ministry of Commerce: New export growth points will continue to emerge.

In addition, the relevant person in charge of the Ministry of Commerce also introduced that in the first quarter of this year, the export of China’s labor-intensive products increased by 9.1%. Among them, the export of textiles and clothing increased by 5.4%, the export of plastic products increased by 14%, and the export of furniture and its parts increased by 23.5%. At present, China manufacturing is moving towards China creation. New export growth points will continue to emerge, and the Ministry of Commerce is confident to achieve the goal of "stable quality and quantity increase" in foreign trade this year.