Source: CGTN Published: 2024-07-23

By Djoomart Otorbaev

The official communique of the four-day meeting of the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) is not just another document. It is a pivotal record that notes the existing trends in a changing world and emphasizes the need to develop the country's innovative potential. According to the communique published by China's official media on July 18, the country is on the verge of a new wave of technological revolution and modern industrial transformation. The significance of the decisions made at this meeting cannot be overstated, and immediate action is required to ensure the success of the country's modernization efforts.

The communique's specific emphasis on the role of 'education, science and technology, and talent function as a basic and strategic underpinning for Chinese modernization' is a clear signal of China's strategic focus. It underscores the gravity of China's modernization efforts and the importance of these critical areas in shaping the country's future. Without Party endorsements and large-scale investments, the strategic direction toward modernization and high-quality development cannot be achieved. China has been prioritizing scientific and technological progress for several decades, and impressive results have been achieved in many areas.

The influence of China's scientific research is rapidly increasing. For example, in 2022, Chinese scientists published 360,000 articles in peer-reviewed international journals with 649,600 citations, ranking first globally. The country's achievements in intellectual property are also steadily growing. In 2023, the number of invention patents issued by China reached 921,000, bringing the total number of valid invention patents to 4.99 million.

Total research and development (R&D) spending in China reached 3.33 trillion yuan (about $455 billion) in 2023, marking a 280 percent increase over 10 years. Investments in modern technologies are growing at an accelerated pace. According to the National Bureau of Statistics, investment in high-tech industries increased by 10.3 percent in 2023 compared to the previous year. China's digital economy reached 50.2 trillion yuan in 2022, with nominal year-on-year growth of 10.3 percent.

Impressive results have been achieved in the development of green energy. According to the National Energy Administration, China's installed solar power capacity reached about 610 gigawatts by the end of 2023, while the installed wind power capacity was approximately 440 million kilowatts. The country's new energy automobile industry is experiencing rapid growth as well. Last year, 9.44 million new energy vehicles were produced, marking a 30.3 percent increase from the previous year.

Research and development are crucial for driving innovation and high-quality progress. While China has traditionally relied on its manufacturing capabilities for economic growth, it has recently made substantial progress in establishing itself as a leader in knowledge-based industries. Innovation is the primary driving force behind the country's social and economic development.

Numerous impressive instances of Chinese high-tech companies emerging as global leaders due to their prioritization of investment in R&D. However, Huawei's recent accomplishments are unmatched even within this context. On July 9, the company announced the completion of its newest research and development campus, Lianqiu Lake R&D Center, in Shanghai. Huawei's new center will consolidate its work in building its chip design unit, HiSilicon. The center will also focus on research on wireless technologies and smartphones.

The scale of Huawei's investments is massive. According to the company's annual report, it invested 23 percent of its total revenue, 164.7 billion yuan, in various research and development initiatives last year. Impressively 114,000 employees, making up 55 percent of Huawei's workforce, are engaged in R&D.

China has emerged as a leader in global high-technology competition. The analysis published last year by an Australian thinktank noted that China is taking the lead in the most critical and emerging technology areas. The report revealed that of the 44 high-tech sectors analyzed, China is taking lead in 37 industries and produces over nine times more high-impact research than the U.S.

As emphasized in the report of the 20th National Congress of the CPC, innovation remains at heart of China's modernization drive. While continuously enhancing its own technological innovation capabilities, China is also accelerating technology transfer and knowledge sharing to help developing countries advance their digital economies and green transformations, ensuring that scientific advancements benefit a broader population and promote stronger, greener, and healthier global development.

China has an even more ambitious goal of becoming a global leader in basic science. Given the critical decisions made at the third plenary session, it is likely that the day will not be far off when the Lianqiu Lake R&D Center and other similar centers will become the new Silicon Valley of rapidly developing Asia.