Chen Wenjun:

Thank you, Mr. Jin. Now, the floor is open for questions. Please identify your media outlet before raising questions.

National Business Daily:

We have noticed that in recent years, Shanxi has adopted many measures to promote scientific and technological innovation. Mr. Governor mentioned the development of Shanxi Innovation Valley , an innovation-driven platform, in his introduction. Could you please elaborate on this? Thank you.

Jin Xiangjun:

Thank you for your question. I'll answer it. The CPC Shanxi Committee and the Shanxi provincial government place great importance on scientific and technological innovation. We have focused on the integrated development of innovation, industry, capital, and talent chains, gathering all available resources in the province to build Shanxi Innovation Valley, a high-level innovation-driven platform. We have developed a three-year action plan and implemented 26 policies and measures, some of which are unprecedented. For example, we have decided to provide 300,000 yuan to 1 million yuan ($41,412 to $138,039) as start-up funds for innovators establishing themselves in Shanxi. Additionally, we have introduced an equity investment error tolerance mechanism, allowing for a project failure rate of up to 80%. We have also allocated 2 billion yuan at the provincial level to set up angel investment funds for scientific and technological innovation projects. Currently, Shanxi Innovation Valley platform has established two sub-venues in Taiyuan and Datong. Other cities in Shanxi province are also gathering their innovative resources to build sub-venues based on their own distinctive features. We sincerely welcome talented teams from home and abroad to engage in innovation, start businesses, and realize their dreams in Shanxi Innovation Valley.

Next, we will continue to reinforce the principal role of enterprises in innovation. We will improve the technological innovation system, research planning methods, and service and security mechanisms, positioning enterprises as the primary actors. There are things we will do and things we won't do. Focusing on advancing all-round transformation, we will strive to achieve breakthroughs in core technologies in key fields such as cleaner and more efficient coal usage and coal-bed gas exploration and exploitation.

We will better stimulate the vitality of researchers. During our investigations, we discovered that researchers are often restricted by various barriers, such as burdensome processes for project applications, assessments, supervision, and evaluations, insufficient autonomy in research funding usage and management, and unclear distribution of research yields. We will establish working teams to delve into labs, enterprises, and higher learning institutions to provide policy guidance and services. Through this approach, we will develop a template for reform that is applicable to other areas in the province. Simply put, we will release researchers from the fetters of administrative chores, enabling them to freely and fully devote their time and energy to scientific exploration.

We will continuously improve the fundamental systems that support comprehensive innovation. We will establish an integrated mechanism for advancing education, science and technology, and talent, with a focus on reforming the evaluation system in the science and technology sector. Guided by innovation value, capability and contribution, we will accelerate the establishment of a talent evaluation system in the science and technology sector. Additionally, we will reform the evaluation system for scientific and technological achievements based on their scientific, technological, economic, social and cultural value. Over the next three years, we will invest 10 billion yuan in implementing the Higher Education 10-Billion-Yuan Special Fund Project, which began last year. We aim to cultivate and attract a number of national-level leading talents, innovative teams and young PhD graduates from high-level universities.

Thank you!