More measures will be rolled out to cultivate more unicorn enterprises in China, Vice Minister of Industry and Information Technology Wang Jiangping said at a press conference in Beijing on Monday.
Unicorn enterprises, as representatives of the new economy, business forms, and models, have emerged as a driving force behind the advancement of new quality productive forces, Wang said. And the number of unicorn enterprises in China has steadily increased in recent years, with their comprehensive capabilities significantly strengthened, leading to the emergence of numerous super unicorn enterprises, he said.
"Unicorn enterprises in sectors including high-end manufacturing, consumption, retail, high and new technology account for over 78 percent of the total. Among those that newly emerged last year, more than half are from hard and core technology fields of new energy, artificial intelligence, and semiconductors," Wang said.
"In the next step, our ministry will establish a unified national system to cultivate unicorn enterprises with cooperation between the ministry and provinces, supporting unicorn enterprises in technological innovation, encouraging and guiding them to pursue technological breakthroughs aligned with the country's strategic needs and acquire more unique know-hows. Efforts will be made to boost financial support for unicorn enterprises, leveraging industrial and financial cooperation platforms to assist their listing, merging, and reorganization. Forward-looking plans will also be made for future industries, focusing on new areas and arenas such as atomic-class manufacturing, brain-computer interface (BCI), and 6G, to promote the growth and expansion of unicorn enterprises. Efforts will be made to integrate unicorn enterprises into the global innovation network and carry out innovation cooperation," he said.
In response to issues such as insufficient orders reported by certain enterprises, Wang said in the fourth quarter, the ministry will collaborate with relevant departments to introduce another set of measures aimed at boosting consumption and expanding domestic demand, assisting enterprises in expanding their markets and unleashing vitality.
"We will focus on leveraging the impact of investment to carry out technology transformation and upgrades, as well as equipment upgrading. We will organize a series of actions centered around expanding consumption, optimizing the supply and promoting upgrades, to advance application scenarios to foster the growth and expansion of new high-quality productive forces, such as the low-altitude economy and smart manufacturing," Wang said.
China to foster more unicorn enterprises: official
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
