Government Work Report: Promote the development of the digital economy and cultivate and expand digital industries such as integrated circuits and artificial intelligence

According to the Chinese government website, on March 5, Premier Li Keqiang proposed in his government work report to implement the innovation-driven development strategy in depth, consolidate and strengthen the foundation of the real economy, promote scientific and technological innovation, promote industrial optimization and upgrading, break through supply constraints, and rely on innovation to improve the quality of development.

Improve scientific and technological innovation capabilities. Implement the 10-year plan for basic research and strengthen long-term and stable support. Implement the three-year plan for reforming the science and technology system, strengthen the country's strategic scientific and technological strength, give full play to the role of national laboratories and national key laboratories, promote the reform of scientific research institutes, and improve the establishment and management of major scientific and technological projects. Support all regions to increase investment in science and technology and carry out regional innovation with their own characteristics. Promote international scientific and technological cooperation. Accelerate the construction of important talent centers and innovation highlands in the world, improve the system and mechanism for talent development, increase support for young scientific researchers, and allow all kinds of talents to concentrate on research and give full play to their abilities.

Increase incentives for corporate innovation. Strengthen the leading role of enterprises in innovation, continue to advance key core technologies, and deepen the integration of production, learning, research and application. Strengthen the protection and use of intellectual property rights. Promote the development of venture capital, innovate science and technology financial products and services, and improve the professional level of science and technology intermediary services. Increase the implementation of the policy of additional deductions for R&D expenses, increase the additional deduction ratio for science and technology-based small and medium-sized enterprises from 75% to 100%, implement tax incentives for enterprises to invest in basic research, and improve policies such as accelerated depreciation of equipment and tools and preferential income tax for high-tech enterprises. This is equivalent to the state providing large-scale financial support for corporate innovation. It is necessary to implement various innovation incentive policies to encourage enterprises to increase R&D investment and cultivate and strengthen new momentum.

Enhance the core competitiveness of the manufacturing industry. Promote the stable operation of the industrial economy, strengthen the supply guarantee of raw materials, key components, etc., implement the leading enterprise chain protection and stabilization project, and maintain the security and stability of the industrial chain and supply chain. Guide financial institutions to increase medium- and long-term loans to the manufacturing industry. Launch a number of industrial base reconstruction projects, promote the upgrading of traditional industries, accelerate the development of advanced manufacturing clusters, and implement the national strategic emerging industry cluster project. Focus on cultivating "specialized, refined, special and new" enterprises, and provide strong support in terms of funds, talents, and incubation platform construction. Promote the construction of a quality power and promote the industry to move towards the middle and high end.

Promote the development of the digital economy. Strengthen the overall layout of the construction of Digital China. Build digital information infrastructure, promote the large-scale application of 5G, promote the digital transformation of industries, and develop smart cities and digital villages. Accelerate the development of the industrial Internet, cultivate and expand digital industries such as integrated circuits and artificial intelligence, and enhance the innovation and supply capabilities of key software and hardware technologies. Improve the governance of the digital economy, release the potential of data elements, and better empower economic development and enrich people's lives.