CCTV News| TINAVI had discussion with experts on the support of increased investment in medical high-tech on China’s 14th Five-Year Plan
Since the beginning of this year, the investment rate increased significantly as one of the three drivers of economic growth. According to the data released by the National Bureau of Statistics, the investment in fixed assets (excluding rural households) reached 9,599.4 billion yuan in the first season of this year, up to 25.6% year on year. The investment in high-tech industries increased by 37.3%, and the investment in high-tech manufacturing of high-tech industries increased by 41.6%. For high-tech manufacturing, the investment in medical devices and instrumentation manufacturing increased by 50.0%.
Recently, Dr. Xu Jin, CEO of TINAVI, was invited to CCTV News to discuss the support of increased investment on China’s 14th Five-Year Plan.
Investment in medical high-tech industry is growing rapidly
‘The investment in medical devices and instrumentation manufacturing increased by 50.0% year on year which provided a strong support for post-epidemic economic recovery and rapid economic development.
Reporters from CCTV News visited the research center of TINAVI and found that as a high-tech medical company, the investment of TINAVI in R&D increased more than 40% in the first season.
The orthopedic robotic system is the core product of TINAVI. It was dramatically affected by COVID-19 last year. But we are also pleased to see a steady rebound in sales from the fourth season of 2020 to the first season of 2021.
The investment growth in medical robot segments has exceeded that of medical devices and instrumentation manufacturing, which means our economy has already stepped out of the impact of COVID-19.’
——From Xu Jin, General Manager of TINAVI
Increased investment has underpinned economic recovery
‘Investment has the most immediate results among the three drivers. Many investment projects were arranged last year. With the increasing investment growth, the data of the first season was good. Last year, a prudent fiscal policy was issued and we invested more in new infrastructure to improve the business environment which attracted more domestic and foreign investment. All above contributed to the investment growth this year.
2020 marks the beginning of the 14th Five-year Plan and the investment in fixed asset has shown a good start for this year. It indicates that the overall economy will recover from the pandemic and the economic growth will back to normal.’
—— From Zhang Jianping,
Director of the Research Center of Regional Economic Cooperation,
Ministry of Commerce Research Institute
‘The investment growth is indeed a good start for the the 14th Five-Year Plan. Overall, it shows a very positive growth. In the context of severe impact of COVID-19 on the world economy, China still maintains growing in investment and shows a strong potential of economic growth.’
Dean of Schwarzman College, Tsinghua University ——From Xue Lan
High demand from the medical high-tech manufacturing market
‘The current growth momentum shows that the investment in high-tech manufacturing is becoming an even more important driver of economic development and the market demand is very strong. Both the domestic and foreign capital are competing for this field. There are many reasons for this, including the impact of the COVID-19 last year and the base number. In addition, no goal was set up for the growth of GDP in the 14th Five-Year Plan. But there are quantitative targets for social development, livelihood development, medical and education development. To achieve these goals, China will continue to increase investment in health care and education.’
——From Zhang Jianping
Director of the Research Center of Regional Economic Cooperation
Ministry of Commerce Research Institute
The diversified market will be further opened up
On the topic of how the external development environment will affect our further development, Dean Lan said, ‘The market in China is very diverse. Despite the current international tensions, China will continue to open up. So far, a series of measures to promote the process of opening up has already launched.
Director Zhang believed that China is currently faced with a complex and uncertain external environment. In the period of the 14th Five-Year Plan, we are still supposed to solve international contradictions by opening up in economy and better adapting to the investment rules of 21st century and in this way to achieve the second century goal.