At present, my country is in a critical period of economic transformation and upgrading. Some traditional momentum is weakening, and new momentum is still under cultivation and growth. Relying on scientific and technological innovation to develop new quality productivity and promote the stable continuous transformation of new and old kinetic energy is not only the general trend, but also an urgent requirement for high-quality development.

In the past 2024, facing the complex and severe situation of increasing external pressure and increasing internal difficulties, my country's economic operation has made steady progress, and the global innovation index ranking has risen to 11th, making it one of the economies with the fastest increase in innovation in the past decade. Strategic emerging industries are booming, and outstanding achievements have been made in the fields of integrated circuits, artificial intelligence, quantum communications, aerospace, new energy vehicles, etc. The digital economy has further grown and green development has further shown results. Practice has proved that the accelerated scientific and technological innovation has ensured that my country's traditional momentum has been renewed and upgraded, and the new momentum has accumulated to become a trend, and the economic development structure is better and the momentum is new.

Economic development itself is a dynamic process of continuously realizing the transformation of new and old kinetic energy under the driving force of scientific and technological innovation. International experience shows that as a country enters the late stage of industrialization, scientific and technological innovation will replace primary factors such as land, labor, and capital, becoming a key factor in economic growth. At present, global scientific and technological innovation has entered an unprecedentedly intensive active period. We must keenly grasp and make good use of the opportunities of the new round of scientific and technological revolution and industrial transformation, use scientific and technological innovation to promote the transformation of new and old kinetic energy, take the lead in global competition and win the initiative.

We must rely on scientific and technological innovation to enhance and transform old kinetic energy. The transformation of new and old kinetic energy is not simply adding or subtracting, and the development of new quality productivity is not about ignoring and giving up traditional industries. At present, traditional industries account for more than 80% of my country's manufacturing industry, which is the basic foundation of national economy and people's livelihood. Through intelligent, digital and green transformation, the production efficiency, product quality and competitiveness of traditional industries can be effectively improved, so that traditional industries can be revitalized and new momentum can be released. For example, after digital transformation, the textile and clothing industry can realize online tailoring and fittings for laser three-dimensional photography, and efficiently and conveniently complete personalized and precise customization. In 2024, my country will accelerate the technological transformation and equipment update in the industrial field, the level of raw material industry and process technology equipment will steadily improve, and the pace of green and digital transformation will accelerate.

We must rely on scientific and technological innovation to cultivate and expand new momentum. With the deep adjustment of the global economic and trade division pattern, emerging industries and future industries have become key directions for countries to accelerate their layout and struggle to develop, and have also become an important means for my country to achieve latecomer catching up. In 2024, the added value of my country's large-scale high-tech manufacturing industry increased by 8.9% over the previous year. We must firmly seize the technological innovation windows such as artificial intelligence, commercial aerospace, quantum technology, biomanufacturing, and new energy, promote disruptive technologies and cutting-edge technological innovation, give birth to new industries, new models, and new momentum, and cultivate new advantageous industries with more dominant and voice in international competition.

The transformation of new and old kinetic energy is a gradual process and cannot be achieved overnight. We must respect the laws of scientific and technological innovation and industrial development, adhere to the principle of seeking progress while maintaining stability, and be cautious in preventing blindly following the trend, rushing forward, and bubbles. The Central Economic Work Conference emphasized that it is necessary to coordinate the relationship between cultivating new momentum and updating old momentum, and develop new quality productivity according to local conditions. We must scientifically grasp the dialectical relationship between stability and progress, establishment and destruction, firmly grasp the "bull's nose" of scientific and technological innovation, deepen the reform of the science and technology system, deeply promote the smooth continuous transformation of new and old kinetic energy, further promote the deep integration of scientific and technological innovation and industrial innovation, and continuously create a new situation of high-quality development.