By Dong  Ximiao

A lecture on the first session of forum " Austria – China Young Leaders Programme Austria – China”

Dear Dr. Gerhard, President Sun, ladies and gentlemen:

Good morning everyone!

Although I will say goodbye to my youth soon, I world like to talk about the topic of "Youth and Innovation". It made me feel still young.

First of all, please allow me to introduce myself. My name is ximiao Dong. I am from Chongyang Financial Research Institution of Renmin University of China and Research Institution of Everygrowing Bank. Chongyang Financial Research Institute was established in January 2013, and Research Institution of Everygrowing Bank was established in July 2015. Both of them are very young but hard-working and full of intelligence. We need more attention.

Goethe ,the famous German thinker ever said, "The holy hearty Spirit to create all kinds of extraordinary things always link with the creative youths." Indeed, the period of youth is full of the richest vigor and vitality. Young people have most active and discerning thinking. They are receptive to new things. Most of them have curiosity and rebellion. They like the maverick, chasing fashion and new trends.

In the history, many important discoveries and creations are produced in the period of youth, which is full of creativeness. In 1831, a young British guy, 22 years old, started global study. He is the author of "Origin of Species",the founder of the theory of evolution. His name is Darwin. The appearance of lamps brings the world more light and warmth. In 1878 the first light bulb on the world was invented by Edison. At that that time, he was 31 years old. In China, Luobin Wang was the famous poet in Tang Dynasty. When he wrote a well-known poem "Ode to Goose", he was just 7 years old.

In modern society, Internet and Internet innovation give the wings to  young people for realizing their dreams. Zuckerberg in USA founded Facebook when he was 19 years old. Bill Gates started Microsoft when he was 20 years old. Huateng, Ma founded Tencent, he was just 27 years old. Of course, not any young people are creative, not any older people have a lack of creativity. But it seems that there is an universal law that a lot of the greatest achievements in the history are made by scientists and artists at their young age.

We also found that since the 20th century, there is a massive global youth movement in human history. The movement is not confined to one country, one nation and one certain area. It is from the East to the West, from developed to developing countries. The burning spark of  youth movement became a "raging fire." The role of youths in social revolution is more and more prominent and important. The young have pioneering and innovative spirit. They have conform to the social trend by participating to the social revolution, playing a pioneering and leading role. Young people are the basic values of the future and hope. They have vigor, positive attitude, scientific knowledge, political sensitivity, courage to look ahead, strongly motivation and boundless enthusiasm for new things. All of the characteristics decide the direction of the young to pursue is hopeful. Youths are the mainstream of social change and the representative of the direction of social development. It needs to say that sometimes such movement may also bring some incalculable consequences, but it is not essential.

"Older people often think past, but young men often think the future." In order to promote the innovation and youth between countries in the future, I have the following suggestions:

Firstly, to create and encourage a positive culture in the social atmosphere. Silicon Valley is the Holy land of innovators. In fact, the success of Silicon Valley is the culture of Silicon Valley, which is actually a culture of innovation. We should learn from this culture to create a relaxed social atmosphere, encourage taking risk, support innovation. We also need the tolerance to meet the failure of innovation, allow the trial and error, so that they do not have a concern.

Secondly, to improve the public administration and services of government. The most important duty of government is not to do everything, but to build and improve social system for young people. The government needs to create a policy environment and release enough space which is conducive to innovate for the young. Moreover, government should build a good innovation service system for young people.

Thirdly, to increase financial supports for youth innovation. For example, they could establish innovation funds for the young in their early period of creation. The governmental investment is to support innovation and form a demonstration effect. The government could launch a policy of loans and subsidies for young people. For example, There is a policy for loans and subsidies for innovative companies in USA. The amount of loan is usually four times more than that of the investment of the company itself.

Fourthly, to strengthen international communication and cooperation of  youth innovation. In the age of the global village, we need to communicate with each other. It will spark off more good ideas, and promote mutual encouragement. Such as a forum today, is a good platform for youths of Austria and China.

"Thriving youths lead to a thriving nation; Strong youths lead to a strong country." In the great age of innovation, youths with the most creative mind and vitality will become the new engine of economic and social development in the future. Whether in China or Austria, or other countries, we should provide good conditions, support and blessing for innovative youths.

We firmly believe that innovation is the power of young people, as well as the future of the world. Youth Innovation will continue to promote the progress of the world.

Many thanks.

The author is a visiting fellow at Chongyang Institute for Financial Studies, Renmin University of China.