On December 7, Huang Qifan, executive vice chairman of the Academic Committee of the China National Innovation and Development Strategy Research Association, said at the Hexun Finance China 2025 conference that China's scientific and technological innovation has made great progress in the past ten years or so. However, in terms of scientific and technological innovation, there are certain problems at the three stages of “0 to 1,” “1 to 100,” and “1 million to 1 million.” Huang Qifan pointed out that China's scientific and technological innovation had the problem of insufficient investment in the “0 to 1” original innovation stage. Basic research investment accounted for only 7%. This ratio will increase to 10% in 2030 and 15% in 2035. In the “1 to 100” achievement transformation stage, he proposed improving the benefit-sharing mechanism to encourage more social forces to participate in the transformation of innovative results. Regarding the “1 to 1 million” industrialization expansion phase, Huang Qifan emphasized the need for strengthened capital support. He said that we now have more than 30 trillion dollars of various types of funds, but only 30% have actually “invested early, invested small, invested in hard technology, and invested for a long period of time.” In this sense, it is essential that at least 70% of all types of funds over 30 trillion dollars “invest early, invest small, invest in hard technology, and invest for a long period of time.”

On December 7, Huang Qifan, executive vice chairman of the Academic Committee of the China National Innovation and Development Strategy Research Association, said at the Hexun Finance China 2025 conference that China's scientific and technological innovation has made great progress in the past ten years or so. However, in terms of scientific and technological innovation, there are certain problems at the three stages of “0 to 1,” “1 to 100,” and “1 million to 1 million.” Huang Qifan pointed out that China's scientific and technological innovation had the problem of insufficient investment in the “0 to 1” original innovation stage. Basic research investment accounted for only 7%. This ratio will increase to 10% in 2030 and 15% in 2035. In the “1 to 100” achievement transformation stage, he proposed improving the benefit-sharing mechanism to encourage more social forces to participate in the transformation of innovative results. Regarding the “1 to 1 million” industrialization expansion phase, Huang Qifan emphasized the need for strengthened capital support. He said that we now have more than 30 trillion dollars of various types of funds, but only 30% have actually “invested early, invested small, invested in hard technology, and invested for a long period of time.” In this sense, it is essential that at least 70% of all types of funds over 30 trillion dollars “invest early, invest small, invest in hard technology, and invest for a long period of time.”