Stories of High-Quality Development | Government should shift from allocating production factors to fostering innovation

How to avoid wasting resources in emerging industries and future industries?

Wang Yiming, vice chairman of the China Center for International Economic Exchanges, noted that the government must shift from exercising administrative power to allocate production factors to promoting projects to foster an enabling ecosystem for innovation. An enabling ecosystem for innovation will continuously attract innovation resources and fully unlock innovation potential, which will be transformed into new quality productive forces.