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‘High Quality,' ‘Hidden Champions' are some of Yicai's key words for 2022 2022-12-26
‘High Quality,' ‘Hidden Champions' Are Some of Yicai's Key Words for 2022
'High quality,' 'hidden champions' and 'age of intelligence' are a few of the 10 key words picked by Chinese financial news outlet Yicai Media Group to measure China's economic development and industrial upgrading in the year 2022.
'New energy,' 'hard technology,' 'digital economy,' 'life science,' 'new information technology,' 'achievement transformation' as well as 'independent and controllable' are the rest of the 10 Yicai Words of the Year 2022.
They were announced at the Yicai Annual Capital Meeting held today and have been selected by industrial experts and Yicai's reporters from hundreds of trending topics, media reports and interviews in the past year.
'High quality' is the word that Yang Yudong cares most about as it applies not only to specific industries but also to the bigger picture, Yicai's editor-in-chief said at the meeting.
It is vital to use 'high quality' as a standard to judge whether China's economy has truly achieved efficient and sustainable development, Yang said. Otherwise it will result in failure to achieve goals as well as a great waste of social resources not to mention huge missed opportunities.
In the past year Yang has visited many outstanding science and technology innovation firms and cities and found that all are choosing hot sectors such as integrated circuits, biomedicine and new energy for industrial upgrading. But is it possible to avoid repeated investment and instead focus on certain sectors or more finely subdivide them, he asked.
New materials, precision instruments and equipment, digitalization of manufacturing, as well as lifestyle and health are also worthy of more in-depth consideration by investors and government agencies, he added.
A sound business environment is necessary to achieve high-quality innovation and upgrading, Yang said. It is very important to hike the confidence of companies and personnel and build up team spirit so as to achieve high-quality development against the backdrop of fierce competition as well as an unpredictable pandemic and a complex economic environment.
“Only by following the rules, respecting the market, and being more down-to-earth can we truly achieve high-quality development,” Yang said.
Source: Yicai
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