The deep logic of Zhejiang's economic transformation consists of five dimensions: the pioneering navigation of institutional innovation, the iterative evolution of the Zheshang spirit, the in-depth integration of industry, academia, research and utilization, the inclusive nourishment of the social soil and the ecological empowerment of the market mechanism.
Text: Yuan Yunfeng Jia Kang
In the digital economy and hard science and technology intertwined with the new track, Hangzhou is the rise of the "six little dragons" to redefine China's private economy innovation picture. Yushu Technology, Depth Seeker, Game Science, Qunicore Technology, Strong Brain Technology, Cloud Depths Technology - these six technology enterprises with an average founding time of less than 10 years have achieved global technological breakthroughs in cutting-edge fields such as foot-type robots (18.790, -0.33, -1.73%), AI models, 3A games, cloud design software, brain-computer interfaces and so on. cutting-edge fields to achieve global technological breakthroughs. By the end of 2024, the total valuation of the six companies will exceed 300 billion RMB. This industrial change with "hard-core innovation" as the background color can make people perceive the deep logic of Zhejiang's economic transformation: the pioneering navigation of institutional innovation, the iterative evolution of the Zheshang spirit, the in-depth integration of industry, academia, research and application, the inclusive nourishment of the social soil and the ecological empowerment of the market mechanism, which jointly build up a new quality of productive forces to cultivate the creativity of the Chinese people. A "Zhejiang paradigm" of gene activation.
01
Government navigation: "institutional high ground" with "policy depression"
Zhejiang governments at all levels of governance wisdom, in the "six little dragons" growth trajectory is reflected in the "one step ahead" of the system supply, and timely policy support. From the construction of the robotics industry ecosystem in Binjiang District to the brain science industry layout in Yuhang District, Hangzhou government policy toolbox iteration and upgrade, always under the guidance of institutional innovation navigation, and technological innovation resonate with the frequency.
The institutional high ground of reform breakthroughs. Hangzhou Free Trade Zone is the first to pilot the "Data Customs" mechanism, allowing Qunar Technology to cross-border transmission of design model data; for the ethical regulatory gaps in humanoid robots, Binjiang District issued the world's first "Intelligent Robot Ethical Governance Guidelines", clearing the compliance hurdles for the products of Yushu Technology to go to sea. This reform logic of "building a runway and tearing down walls" has continuously transformed the advantages of a regional institutional highland into innovation potential.
The strategic determination of forward-looking layout. Under the orientation of institutional innovation in building a high-standard, rule-of-law business environment in the socialist market economy, corresponding to the framework of modern governance strategic thinking that optimizes the combination of an effective, orderly market and a capable, limited government, Hangzhou launched the "Hangzhou New-Generation Artificial Intelligence Development Plan" in 2018, and took the lead in classifying brain-computer intelligence and intelligent robots as a "dual-tip "Yuhang District set up a 5 billion yuan future industry fund for this purpose. When Yu Shu technology is still developing the first generation of quadrupedal robots, Binjiang District has planned the "Intelligent Valley" industrial park, reserved 200 acres of robotics test site; cloud deep science and technology settled in Xihu District, the government synchronized to build the country's first foot robot open test platform. This "track is not hot, planning first policy force" strategic forward-looking layout for hard science and technology enterprises to provide a key incubation period.
Innovative support for precise measures. For the differentiated needs of different technology routes, Hangzhou has built up a "one chain, one policy" support system. For example, it opens a green channel of arithmetic power scheduling in Yangtze River Delta for the large model training of in-depth search, and coordinates with National Supercomputing Center Hangzhou to open up 10% arithmetic power resources; for the game science and this kind of cultural and technological fusion enterprise, it innovates the parallel mechanism of "pre-approval of the game version number + technical assessment", so as to shorten the cycle of the market launch of "Black Myth: Wukong" by 40%. 40%; in the field of brain-computer interface, Yuhang District has established a special review channel jointly with the drug regulatory department to promote the clinical approval time of products of strong brain technology, which has been compressed to one-third of the conventional process.
02
Zheshang Spirit: From "Four Thousand Spirits" to "Four Poles of Breakthrough"
The new generation of Zheshang businessmen have evolved the new traits of "Geek Spirit, Extreme Product, Extreme Iteration, Extreme Chain, Extreme Ecology" on the background of the traditional "Four Thousand Spirits", which are "Traveling thousands of mountains and rivers, thinking of thousands of ways and means, speaking thousands of words, and suffering thousands of pains". Ecology".
The adventurous gene of technology geeks. Wang Xingxing, the founder of Yushu Technology, gave up his teaching position at the Swiss Federal Institute of Technology and mortgaged his property to invest in the research and development of foot-type robots; Zhou Yulong, CEO of Depth Seeker, decisively gave up his existing technology route and went all out to research and development of multilingual large models when ChatGPT came out of the blue. This kind of "to die for life" technology bet, in the six enterprises to form a unique "1085 phenomenon" - 10 core members, 8 years of technical accumulation, 5 rounds of financing across the valley of death. Valley of Death.
Global vision of product definition. Game Science reconstructed the value standard of 3A game with "Black Myth: Wukong": investing 5 years' cycle and 800 million yuan cost to subvert the industry's "fast-consumption hand game" mode with 20 million faces of high-precision modeling; Qunar's Cool Joy platform broke through the technical blockade of Autodesk to realize the ultimate experience of "10 minutes to render 4K rendering". Qunar Technology's Kujia platform broke through Autodesk's technical blockade to realize the ultimate experience of "rendering 4K rendering in 10 minutes", forcing international giants to adjust their pricing strategies in China. This product philosophy of "reshaping industrial rules with cutting-edge technology" is rewriting the global innovation landscape.
The chain thinking of ecological construction. Strong brain technology to build "brain-computer interface + rehabilitation medical care + education and training" industry closed loop, and Zhejiang University Second Hospital to build a digital therapy center; cloud depth technology joint Shunfeng, the State Grid to create a "robot +" ecology, its inspection robots have been deployed in the West-East transmission of electricity to the main power grid. The inspection robot has been deployed in the west-east power transmission main grid. This ecological layout of "penetrating the industry with technology" makes single champion enterprises gradually evolve into industrial organizers.
03
Innovation pedestal: from "laboratory innovation" to "battlefield-style research"
The Hangzhou program of "new type of national system" explored by Zhejiang Province is reflected in the growth of "Six Little Dragons" as a "demand-oriented, scenario-driven, wartime mechanism" to support cutting-edge innovation and entrepreneurship society. A new model of integration of industry, academia and research.
Paradigm breakthrough of new R&D institutions. Zhijiang Laboratory's mechanism of "unveiling the list of commanders" has led to the joint research and development of a distributed training framework for large models with NVIDIA; the Brain Science Center of Xihu University has opened its neural decoding database to Strong Brain Technology, and is jointly working on signal noise reduction algorithms. The government-led "innovation consortium" model shortens the cycle from basic research to industrial application by 60%.
The three-dimensional reconstruction of the talent mechanism. Hangzhou implementation of the "top talent through train" policy, the introduction of Yu Shu science and technology to Zurich Federal Institute of Technology robotics team "preparation, equity double guarantee"; Yuhang District for the game science and art team to set up a "digital art The Yuhang District has set up a "special title channel for digital art" for the game science and art team. This "do not ask about the origin, but seek to use" concept of talent, so that Hangzhou gathered the world's top robotics scholars 23%.
The explosion effect of scene innovation. The government's open "city-level testing ground" has become a gas pedal of technology iteration: DeepCloud Technology participated in the inspection of the Asian Games venues and completed 18 algorithm optimizations in three months; Qunusoft leveraged on the renovation of old districts to promote the market share of BIM software to increase by 27 percentage points. This innovative path of "nurturing technology with scenarios" has built up a first-mover advantage that is difficult to replicate.
The renovation project has boosted the market share of BIM software by 27 percentage points. This innovative path of "nurturing technology with scenarios" has built up a first-mover advantage that is difficult to replicate.
04
Social soil: from "utilitarian entrepreneurship" to "patience and tolerance"
The inclusive evolution of Zhejiang society has provided a unique cultural nourishment for the cultivation of new quality productivity. While other regions are still debating the old-fashioned utilitarian entrepreneurial considerations of "whether hard science and technology is worth long-term investment", Hangzhou has already formed a social and ecological atmosphere that supports cutting-edge innovation and entrepreneurship by "respecting the cycle of innovation and tolerating strategic losses".
Patient cultivation of the capital market. Zhejiang Venture Capital Guidance Fund set up "hard science and technology ten-year sub-fund", allowing QUNNUCLEAR to make strategic losses for seven consecutive years; Bank of Hangzhou (14.780, 0.12, 0.82%) for brain-computer interface enterprises to launch the "future right to pledge loans "Strong brain technology with technology roadmap to obtain 500 million yuan credit. This kind of "make friends with time" financial innovation, supporting the hard core technology "bench period".
The value of cultural identity is upgraded. During the research and development of "Black Myth: Wukong", Hangzhou folk spontaneously formed the "Wukong cultural community", with 100,000 players participating in the plot co-creation; Yu Shu technology robot dog was selected for the "Zhejiang ZhiZhuang" permanent exhibition in the provincial blog, and the technical products gained cultural identity. This ecology of "technology and culture dance together" gives hardcore innovation a deeper spiritual value.
Collaborative protection of digital governance. Hangzhou's "City Brain" opens up 137 types of data resources to innovative enterprises, according to which the depth search optimizes the city service module of AI model; Binjiang District's "Intellectual Property Digital Intelligence Court" establishes a blockchain deposit system, which shortens the cycle of patent protection for cloud-depth science and technology to 45 days. 45 days. The modernization of government-enterprise collaboration is reshaping the innovation protection system.
05
Market system: from "factor-driven" to "ecological empowerment"
Zhejiang's mature market system, in the "six little dragons" rise to show a strong resource allocation capacity. When the land, labor and other traditional factor dividends fade, "data, scene, algorithm" of the new factor combination is releasing the multiplier effect.
Ice-breaking in the marketization of data elements. Hangzhou Data Exchange has innovated the "data available but not visible" trading model, Qunar Technology has gained a valuation of 2 billion yuan by virtue of the data assets of 300 million sets of design plans, and Depth Seeker has called data from medical institutions to train diagnostic models under the premise of compliance by means of federated learning technology. The exploration of assetization of data elements is opening up a trillion-dollar market space.
The penetration of the global market is built. Yushu Technology adopts the model of "open source hardware + subscription service", and its Unitree Go1 robot dog has gained a global following of 23,000 developers through the GitHub community; Strong Brain Technology opens up the European and American markets with "technology charity", and donates 5,000 smart prosthetic limbs to amputee children to build brand awareness. Strong Brain Technology opened up the European and American markets with "technology charity" and donated 5,000 smart prosthetic limbs to amputee children to build brand awareness. This kind of "technology diplomacy" strategy opens up a new path for hard science and technology to go overseas.
Chain reaction of industrial synergy. Hangzhou to build the "intelligent robotics industry brain" access to 634 upstream and downstream enterprises, Yu Shu technology through the joint local suppliers, to achieve the servo motor, reducer, controller, encoder and laser radar and other core components of the localization of the substitution rate of more than 90%; the game of science and joint Hikvision ( 31.410.0.08, 0.26%) to develop launch capture technology, so that the efficiency of the game character skeleton modeling increased by 8 times. 31.410, 0.08, 0.26%) to develop capture technology, so that the efficiency of the game character bone modeling increased by 8 times. This kind of synergistic innovation of "bringing small with big and hard with soft" is reconstructing the competitive advantages of the industrial chain.
"Hangzhou Six Little DragonsThe collective rise of "Zheshang" can be said to be a sign that China's private economy has entered a new stage of "hard-core innovation". The government-led system innovation and market spontaneous ecological evolution, the intergenerational inheritance of the Zheshang spirit and the integration and allocation of global resources, the social and cultural tolerance and nourishment and the subversive power of the technological revolution, here to form a historic convergence.
This practice of cultivating new productivity with "innovation ecological rainforest" in Zhejiang not only provides regional samples for high-quality development, but also explores innovative solutions for Chinese modernization in the new period of deepening reform in a comprehensive manner in the dimensions of attacking core technologies, climbing up the global value chain, and enhancing human well-being.
(The author of this article, Yuan Yunfeng, is a doctor of Shanghai Jiaotong University and a postdoctoral fellow of the Ministry of Finance; Jia Kang is the former director of the Ministry of Finance's Finance Division, the founding director of the Huaxia Institute of New Supply Economics, and a researcher and a doctoral fellow of the China Academy of Fiscal Sciences) (This article is reprinted from Sina Finance)
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