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Full-Text Articles in Technology and Innovation

Determinan Implementasi Central Bank Digital Currency Di Indonesia, Kharisma Dwi Widodo, Bambang Juanda, Dedi Budiman Hakim Jul 2024

Determinan Implementasi Central Bank Digital Currency Di Indonesia, Kharisma Dwi Widodo, Bambang Juanda, Dedi Budiman Hakim

Jurnal Ekonomi dan Pembangunan Indonesia

Private digital currency is no longer limited to shadow banking issues but has also entered shadow central banking, putting Bank Indonesia to adopt the CBDC. This study aims to determine the effect of macroeconomic, accessibility, and demographic aspects on CBDC implementation, as well as the impact of publicity on changes in the behavior of economic actors in using CBDC in Indonesia. The results of the study show that GRDP, gini ratio, ICT, and bank accounts have an effect on CBDC. Publicity affects changes in the behavior of economic actors in increasing the conversion of fiat money to CBDC.


Deep Integration Of Technological Innovation And Industrial Innovation In Modern Industrial System: Inspiration From Global New Generation Lithography Systems, Jiang Yu, Feng Chen, Yue Guo Jul 2024

Deep Integration Of Technological Innovation And Industrial Innovation In Modern Industrial System: Inspiration From Global New Generation Lithography Systems, Jiang Yu, Feng Chen, Yue Guo

Bulletin of Chinese Academy of Sciences (Chinese Version)

Utilizing technological innovation to lead the construction of a modern industrial system is a strategic choice for seizing the opportunities of the new round of technological revolution and industrial transformation. It is also a necessary step for winning the strategic initiative towards high-level self-reliance and self-improvement. Technological innovation is the intrinsic driving force behind industrial innovation, and industrial innovation is the value embodiment of technological innovation. The deep integration of technological innovation and industrial innovation is the key to constructing and improving a modern industrial system. Taking the global extreme ultra-violet (EUV) lithography system as an example, based on the …


Innovation And New Quality Productivity, Yongnian Zheng, Lanmeng Xu Jul 2024

Innovation And New Quality Productivity, Yongnian Zheng, Lanmeng Xu

Bulletin of Chinese Academy of Sciences (Chinese Version)

China is in a critical period of promoting high-quality development and advancing Chinese modernization. This paper attempts to clarify the relationship between innovation and new-quality productivity and provide a potential development direction for China to lead a modernized industrial system by developing new-quality productivity through innovation. The study proposes that the development of new quality productivity through innovation requires serious consideration from three dimensions. First, it is important to figure out where new technologies come from. Second, it is essential to investigate where new industries come from. Third, a feasible solution has to be formulated based on China’s reality. The …


Establish Policy Ecosystem That Supports Technological Innovation And Leads Construction Of Modern Industrial System, Cheng Zhou, Xiaoyi Peng, Wen Xie, Chidong Zhang, Yuhe Qiu, Fan Wu Jul 2024

Establish Policy Ecosystem That Supports Technological Innovation And Leads Construction Of Modern Industrial System, Cheng Zhou, Xiaoyi Peng, Wen Xie, Chidong Zhang, Yuhe Qiu, Fan Wu

Bulletin of Chinese Academy of Sciences (Chinese Version)

To harness the leading role of science and technology innovation and accelerate the construction of a modern industrial system, it is necessary to establish an innovation policy ecosystem that coordinates science and technology, education, economics, and social policies. Compared with this demand, China’s current science and technology innovation policy still needs to be further improved in terms of policy horizontal and vertical coordination, industrial technology research organization mechanism, innovative enterprise subjectivity, industry-university-research cooperation innovation incentives, and resource allocation marketability. In response to these issues, five suggestions are put forward, namely, (1) set up an innovation policy coordination and review agency …


Theories, Status Quo, And Suggestions On Scientific And Technological Innovation As Driver Of Developing Emerging Industries, Xiaoyan Zhang Jul 2024

Theories, Status Quo, And Suggestions On Scientific And Technological Innovation As Driver Of Developing Emerging Industries, Xiaoyan Zhang

Bulletin of Chinese Academy of Sciences (Chinese Version)

The emerging industry is the key to fostering new growth drivers and developing new advantages. It is also an essential guarantee to reinforce the resilience and security of China’s industrial chain and supply chain, and seize the initiative of future development. This study, based on the theoretical foundation and practical needs of “scientific and technological innovation as the driver of developing emerging industries”, summarizes the typical practices of innovation and development of emerging industries in countries including the United States, Japan, and Singapore. In addition, the study identifies the difficulties faced by China in the developing emerging industries, and raises …


Thoughts On Fostering Industries Of The Future Based On Innovation Infrastructure Clusters, Qingli Huang, Ziwei Zhao, Can Wang, Weihua Wang Jul 2024

Thoughts On Fostering Industries Of The Future Based On Innovation Infrastructure Clusters, Qingli Huang, Ziwei Zhao, Can Wang, Weihua Wang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Industries of the future (IoTF) are characterized by a distinctive whole chain and high scientific and technological content, and as an important carrier to support the innovation activities of industries of the future, the construction and layout of innovation infrastructures, such as large scientific devices, major scientific and technological innovation platforms, pilot bases, etc., will inevitably develop towards whole chain clustering. This study tries to explain the basic concept of innovation infrastructure clusters for industries of the future, sort out the practices and results of fostering industries of the future based on innovation infrastructure clusters in some regions in China, …


Empowering Traditional Industries With Digital Intelligence For Transformation And Upgrading, Jiyuan Zang, Huanyong Ji, Qingxue Huang Jul 2024

Empowering Traditional Industries With Digital Intelligence For Transformation And Upgrading, Jiyuan Zang, Huanyong Ji, Qingxue Huang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Traditional industries are the basic support and driving force for the high-quality development of the economy. Digital intelligence is an important lever for traditional industries to achieve the transformation of old and new kinetic energy and the leapfrogging of the global value chain. This study firstly deconstructs the rich connotations of digital intelligence from the perspectives of digitalization, networkization, and intelligentization. Secondly, it analyzes the transformation mechanism and various pathways through which digital intelligence impacts traditional industries. Thirdly, it analyzes the barriers faced by traditional industries in the process of adopting digital intelligence technologies. Finally, this study puts forward four …


Insights On Strategy And Approach For China To Construct A Modern Integrated Circuits Industrial System, Ximing Yin, Beibei Zhang, Tailun Chen, Jiang Yu, Jin Chen Jul 2024

Insights On Strategy And Approach For China To Construct A Modern Integrated Circuits Industrial System, Ximing Yin, Beibei Zhang, Tailun Chen, Jiang Yu, Jin Chen

Bulletin of Chinese Academy of Sciences (Chinese Version)

The integrated circuit (IC) industry is highly complex and systematic, and its key core technology breakthroughs are highly dependent on the support of systematic capabilities. The West especially the United States has accelerated the promotion of the “small-yard, high-fence” strategy, the “New Washington Consensus”, the “de-risking”, and other systematic policies to curb China’s rise. China’s IC industry chain is facing extreme risks such as rupture or blockage. Meanwhile, facing the new mission and requirements of Chinese modernization and new-quality productivity, China needs to accelerate the modernization of the IC industry with new development paradigms, new strategies, and new approaches. Based …


Strategic Study On Leading Construction Of Modern Agricultural System By Technology Innovation, Yan Yan, Xurong Mei, Xiudong Wang Jul 2024

Strategic Study On Leading Construction Of Modern Agricultural System By Technology Innovation, Yan Yan, Xurong Mei, Xiudong Wang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Technology innovation is the fundamental solution to build a modern agricultural system, and it is also an important support for building the large base, large enterprise, and large industry of modern agriculture and achieving the modernization of material equipment, technology, management, agricultural informatization, and sustainable resource utilization of agriculture. This paper explains the scientific concepts and logical relationships of the agricultural production system, industrial system and management system, which are the main components of a modern agricultural system. It emphasizes that ensuring food security, promoting industrial integration and upgrading, and cultivating leading enterprises are current key tasks. Nevertheless, from the …


Catalysing Growth: State Of Asean University Innovation And Entrepreneurship: Report 2024, Abdullah Khurshid, Dexter Ye Kai Tan, Gabrielle Lay Khim Tan Jul 2024

Catalysing Growth: State Of Asean University Innovation And Entrepreneurship: Report 2024, Abdullah Khurshid, Dexter Ye Kai Tan, Gabrielle Lay Khim Tan

Research Collection Institute of Innovation and Entrepreneurship

Over the past few years, Southeast Asia has captured global attention with its remarkable economic growth, driven by strong tailwinds. This has led to the expansion of its middle-class consumer base that is actively participating in while benefitting from the region’s rapidly expanding digital economy. In such a climate, there is tremendous potential for Innovation and Entrepreneurship (I&E) to be a critical economic driver. Homegrown startups in different Southeast Asian countries have introduced technology-first solutions that have scaled across the region, pushing businesses to innovate rapidly. Moreover, startups promote inclusive growth by leveraging scalable internet platforms and novel technologies to …


Innovating Today To Build A Sustainable Tomorrow, Daryl Ng Jul 2024

Innovating Today To Build A Sustainable Tomorrow, Daryl Ng

Asian Management Insights

Daryl Ng, Deputy Chairman of Hong Kong-based real estate property developer Sino Group, speaks about his ideas and ideals on the built environment, sustainability, and how business and innovation can be a force for good.


Nurturing Entrepreneurship And Growing Entrepreneurs, Sun Sun Lim, Abdullah Khurshid, Dexter Ye Kai Tan, Gabrielle Lay Khim Tan Jul 2024

Nurturing Entrepreneurship And Growing Entrepreneurs, Sun Sun Lim, Abdullah Khurshid, Dexter Ye Kai Tan, Gabrielle Lay Khim Tan

Asian Management Insights

How Southeast Asia’s universities can pave the way.

Universities in Southeast Asia:

1. Can unlock the potential of changemakers in driving economic growth through entrepreneurship education.

2. Accelerate the growth of the ASEAN start-up ecosystem by facilitating technology commercialisation, leveraging regional networks for mentorship and funding, and fostering cross-border collaborations.

3. Have birthed at least five of Southeast Asia's unicorns and are set to lead the way in producing more.


The Creativity Conundrum, Andrew Heng Jul 2024

The Creativity Conundrum, Andrew Heng

Asian Management Insights

1. My survey of Chinese and German workers shows that the impact of remote work on creativity varies by gender, culture, and age.

2. Chinese women, in particular, grapple with cultural and gender norms that hamper creativity in remote work settings.

3. Hybrid work models can provide flexibility without sacrificing talent or creativity.


Exploring Gen Z’S Identity Formation And Its Influence On Consumption Of Pop Culture And Entertainment Merchandise, Melisa Annette Spilinek Jul 2024

Exploring Gen Z’S Identity Formation And Its Influence On Consumption Of Pop Culture And Entertainment Merchandise, Melisa Annette Spilinek

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

Fandoms have grown in size and influence, becoming a complex and dynamic cultural phenomenon that richly impacts the consumption of media and consumer behavior. The capitalistic United States with its diverse and media-savvy population, is a prime destination to study fan studies, particularly among young adults who are a crucial component of fandom influence.

The internet has grown to be a major component of the fan experience, an integral part of fandom culture. Online communities provide avenues for Generation Z to connect with others who share similar struggles, challenges, and interests, highlighting the importance of digital platofrms on the evolution …


Secrets Of Successful Women Inventors: How They Swam With The Sharks And Hundreds Of Other Ways To Commercialize Your Own Inventions. Edith G. Tolchin, Square One Publishers, 2024., Suzanne Reinman Jun 2024

Secrets Of Successful Women Inventors: How They Swam With The Sharks And Hundreds Of Other Ways To Commercialize Your Own Inventions. Edith G. Tolchin, Square One Publishers, 2024., Suzanne Reinman

Journal of the Patent and Trademark Resource Center Association

No abstract provided.


The Impact Of Human-Ai Relationship Perception On Voice Shopping Intentions, Marisa Tschopp, Kai Sassenberg Jun 2024

The Impact Of Human-Ai Relationship Perception On Voice Shopping Intentions, Marisa Tschopp, Kai Sassenberg

Human-Machine Communication

In the emerging field of voice shopping with quasi-sales agents like Amazon's Alexa, we investigated the influence of perceived human-AI relationships (i.e., authority ranking, market pricing, peer bonding) on (voice-)shopping intentions. In our cross-sectional survey among experienced voice shoppers, we tested hypotheses specifically differentiating voice shopping for low- and high-involvement products. The results emphasized the importance of socio-emotional elements (i.e., peer bonding) for voice shopping for high-involvement products. While calculative decision-making (i.e., market pricing) was less relevant, the master-servant relationship perception (i.e., authority ranking) was important in low-involvement shopping. An exploratory analysis of users’ desired benefits of voice shopping reinforces …


Large-Scale Research Infrastructure Empowers High-Quality Development Of Private Enterprises: Current Situation, Challenges, And Policy Recommendations, Lingling Zhang, Fuqiang Wang, Mingze Zhang, Zexia Li Jun 2024

Large-Scale Research Infrastructure Empowers High-Quality Development Of Private Enterprises: Current Situation, Challenges, And Policy Recommendations, Lingling Zhang, Fuqiang Wang, Mingze Zhang, Zexia Li

Bulletin of Chinese Academy of Sciences (Chinese Version)

Private enterprises have become an important source of innovation in China’s economic development. Large-scale research infrastructure, as a crucial strategic support and innovation element for breaking through key technologies, provides a platform for the innovative development of private enterprises. At present, some large-scale research infrastructures in China, such as the China Spallation Neutron Source and the Shanghai Synchrotron Radiation Facility, have begun actively exploring mechanisms to serve private enterprises. These efforts have helped a number of private companies overcome critical technological bottlenecks and achieve original innovations. Nevertheless, in the current process of opening up large-scale research infrastructures to private enterprises …


Context-Driven: Logic And Pathway Of Industrial Intelligence To Accelerate Development Of New Quality Productive Forces, Ximing Yin, Yaxin Su, Tailun Chen, Jin Chen, Jiang Yu Jun 2024

Context-Driven: Logic And Pathway Of Industrial Intelligence To Accelerate Development Of New Quality Productive Forces, Ximing Yin, Yaxin Su, Tailun Chen, Jin Chen, Jiang Yu

Bulletin of Chinese Academy of Sciences (Chinese Version)

The development of new productive forces hinges on industrial intelligence, which is driven by the deep integration of technological innovation and industrial innovation, and the accelerated construction of a modern industrial system. Industrial intelligence refers to the process of transforming traditional industrial development models and cultivating new pillar industries through the empowerment of intelligent technologies and data elements. It serves as a pivotal engine for promoting new industrialization and developing new productive forces. However, existing research has largely overlooked the critical theoretical and practical issues of how to leverage China’s ultra-large market and its vast contextual advantages to improve the …


Comparative Analysis And Insights Into R&D Mode Of Top Artificial Intelligence Companies In China And The Us, Xiyi Yang, Jia Jia, Xiaoyu Zhou, Shouyang Wang Jun 2024

Comparative Analysis And Insights Into R&D Mode Of Top Artificial Intelligence Companies In China And The Us, Xiyi Yang, Jia Jia, Xiaoyu Zhou, Shouyang Wang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Artificial intelligence (AI) is currently one of the most prominent fields in the technology industry, with China and the US being two global centers for AI research and development. However, the two countries differ in their development levels of the AI industry. In particular, the emergence of ChatGPT in 2022 has sparked extensive discussions regarding the capabilities and competitiveness of Chinese AI companies. This study analyzes over 120 000 AI invention patents approved in the past five years in both China and the US. Firstly, it constructs a multidimensional index based on AI patent features to identify the top 10 …


Connecting The Dots: Sharing Hidden Histories Of Regional Inventors’ Patents, John Schlipp, Kris Kallies Jun 2024

Connecting The Dots: Sharing Hidden Histories Of Regional Inventors’ Patents, John Schlipp, Kris Kallies

Journal of the Patent and Trademark Resource Center Association

Patent and Trademark Resource Centers (PTRCs) support inventors, entrepreneurs, and researchers with patent and trademark information. Some PTRCs share regional patent history as part of their community outreach. This article focuses on PTRCs that have developed online databases and published works documenting regional patents, thereby providing hidden historical insights for historians, genealogists, and students. It spotlights the development of Georgiavation, a historic patent database developed by the PTRC at Georgia Southern University. Finally, this article offers guidance for libraries, museums, and other institutions interested in documenting their state or regional patent histories. This can result in a more inclusive narrative …


Naturify 2300, Yarina Yiwei Dai Jun 2024

Naturify 2300, Yarina Yiwei Dai

Masters Theses

In my art practice, I explore the interplay between human desires to manipulate and anthropomorphize nature, as seen in the technological augmentation of plants and living entities. This investigation delves into how this intersection, alongside empathy towards these creations, contributes to fears of uncontrollability and the risks of addiction and excessive dependence on technology.

Bioengineering and genetic modification have cultivated unprecedented developments, allowing humans to manipulate the fundamental building blocks of life. My research speculates on this technology further, modifying the genetic code of organisms and creating bioengineered wearable entities with enhanced traits or entirely new functionalities. The primary objective …


Editorials May 2024

Editorials

Bulletin of Chinese Academy of Sciences (Chinese Version)

No abstract provided.


Integrating Scientific And Technological Innovation With Industrial Innovation: Understanding The Strategic Logic Of Deep Integration To Foster New Quality Productive Forces In China’S New Development Stage, Science And Technology Innovation And Development Center, Chinese Academy Of Sciences May 2024

Integrating Scientific And Technological Innovation With Industrial Innovation: Understanding The Strategic Logic Of Deep Integration To Foster New Quality Productive Forces In China’S New Development Stage, Science And Technology Innovation And Development Center, Chinese Academy Of Sciences

Bulletin of Chinese Academy of Sciences (Chinese Version)

The deep integration of scientific and technological innovation with industrial innovation serves as the core mechanism for cultivating new quality productive forces. President Xi Jinping advances this scientific proposition based on China’s development practice in the new era and the historical, theoretical, and practical logic of global innovation advancement. The proposition profoundly elucidates the fundamental mechanisms driving contemporary productivity leaps and the strategic pivot for Chinese path to modernization. As a major theoretical innovation, this theory is groundbreaking, exemplary, and contemporary, providing a scientific foundation and strategic guidance for high-quality development and Chinese path to modernization. This study examines the …


Promoting Construction Of China’S Modern Industrial System By “ Multi-Tracking” Research And Innovation Model, Yongnian Zheng, Lanmeng Xu May 2024

Promoting Construction Of China’S Modern Industrial System By “ Multi-Tracking” Research And Innovation Model, Yongnian Zheng, Lanmeng Xu

Bulletin of Chinese Academy of Sciences (Chinese Version)

The core of the competition between large nations during the fourth industrial revolution is centered on economic resilience, which is based on the industrial system of each nation. The key takeaway from the historical experience of industrial development in the United Kingdom and the United States is that the building of a modern industrial system must prioritize the balanced development of industries rather than concentrating solely on the financial and service sectors and ignoring the manufacturing sector, which leads to industrial hollowing-out. China ought to build a modern industrial system that possesses the five characteristics, including industry comprehensiveness, large capacity, …


Policy Practices And Countermeasures Analysis On Deep Integration Of Technological Innovation And Industrial Innovation, Defang He, Tao Chen, Hui Liu, Fangjuan Yang May 2024

Policy Practices And Countermeasures Analysis On Deep Integration Of Technological Innovation And Industrial Innovation, Defang He, Tao Chen, Hui Liu, Fangjuan Yang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Technological innovation serves as the strategic foundation for driving high-quality development and building a modern industrial system. To compete for global leadership in science, technology, and industrial advancement, major economies worldwide are reshaping their policy frameworks to accelerate the development of cutting-edge technologies and future industries. This study analyzes the intrinsic mechanisms and policy evolution of the integration between technological innovation and industrial innovation. By examining domestic and international case studies—such as integrated circuits, mRNA vaccines, new energy vehicles, and photovoltaics—it reveals how strategic guidance and policy coordination facilitate the convergence of innovation chains and industrial chains. Furthermore, the study …


Research And Suggestions On Top-Down Design Methodology Of High-End Cnc Machine Tools, Weiguo Gao, Dawei Zhang, Bingye Liu May 2024

Research And Suggestions On Top-Down Design Methodology Of High-End Cnc Machine Tools, Weiguo Gao, Dawei Zhang, Bingye Liu

Bulletin of Chinese Academy of Sciences (Chinese Version)

The strategic significance of top-down design theory, method and technical system of high-end CNC machine tools is expounded, so as to realize the independent research and development of high-end CNC machine tools, satisfy the requirements of high-end users in key fields and maintain the independence and control of the core technologies. The top-down design methods and some key scientific problems are proposed, including static-dynamic stiffness design, geometric accuracy design, thermal balance design, and assembly process accuracy design, based on the spatial position and attitude error, relative dynamic flexibility of the working space, through the design, processing and assembly process. The …


Breakthrough Path Of High-End Equipment Manufacturing Driven By Independent Innovation—From Perspective Of R&D And Industrialization Of High-End Wafer Stage Of Lithography Machine, Yu Zhu May 2024

Breakthrough Path Of High-End Equipment Manufacturing Driven By Independent Innovation—From Perspective Of R&D And Industrialization Of High-End Wafer Stage Of Lithography Machine, Yu Zhu

Bulletin of Chinese Academy of Sciences (Chinese Version)

Focusing on R&D and industrialization of wafer stage of high-end lithography machine, this study deeply analyzes the development status and core challenges of China’s high-end equipment manufacturing industry. The study finds that although China’s high-end equipment manufacturing industry has achieved scale expansion and technological innovation, there are still deficiencies in the independent control of core technologies, facing the dual bottlenecks of technological innovation and basic capabilities. By analyzing the independent innovation practices of wafer stage, including aspects such as core technology breakthroughs, basic capacity enhancements, industrial chain collaboration, and the construction of industry-university-research support systems, the internal laws for the …


Present Situation, Problems And Suggestions Of Advanced Optical Ultra-Precision Manufacturing Technology, Xin Zhang, Kuo Hai, Zizheng Li, Yinghuai Zhang, Binzhi Zhang, Yunfei Zhang, Zhongming Zang, Peng Zeng, Mingtao Wu, Kailong Li, Lisong Yan, Taixi Cehn, Yigang Qian, Hongfei Jiao May 2024

Present Situation, Problems And Suggestions Of Advanced Optical Ultra-Precision Manufacturing Technology, Xin Zhang, Kuo Hai, Zizheng Li, Yinghuai Zhang, Binzhi Zhang, Yunfei Zhang, Zhongming Zang, Peng Zeng, Mingtao Wu, Kailong Li, Lisong Yan, Taixi Cehn, Yigang Qian, Hongfei Jiao

Bulletin of Chinese Academy of Sciences (Chinese Version)

With the continuous development of key fields such as laser nuclear fusion, space-to-earth observation, deep space exploration, and extreme ultraviolet lithography, the demand for optical components with high surface shape accuracy and high surface quality is increasing. Advanced optical ultra-precision manufacturing technology has become the core pillar of the national high-end manufacturing field. In this paper, the research status of advanced optical ultra-precision manufacturing technology in China is described with the focus on material preparation technology of optical components, ultra-precision forming, polishing, testing and surface treatment technology of components. The existing problems and countermeasures in this field in China are …


Generative Ai-Driven Paradigm Shift For Future Industrial Innovation, Lan Xue, Lidan Jiang May 2024

Generative Ai-Driven Paradigm Shift For Future Industrial Innovation, Lan Xue, Lidan Jiang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Generative AI, as the core engine triggering a paradigm shift in future industrial innovation, is propelling the next generation of artificial intelligence toward a “new qualitative state” characterized by deep thinking and long-chain reasoning. This study, grounded in the emerging attributes of generative AI-driven future industrial innovation, examines the mutually constitutive relationship between generative AI and industrial innovation in the digit-intelligence era. Through three analytical dimensions, namely, AI-driven transformation of knowledge production paradigms, the reconstruction of technological agency spaces, and the unleashing of new qualitative factor values, it thoroughly deciphers the paradigm evolution driven by generative AI. Furthermore, it proposes …


Development Of China’S Ultra-Precision Equipment Industry And Support Of Patient Capital, Hong Jiang May 2024

Development Of China’S Ultra-Precision Equipment Industry And Support Of Patient Capital, Hong Jiang

Bulletin of Chinese Academy of Sciences (Chinese Version)

As a core field of high-end manufacturing, China’s ultra-precision equipment industry has achieved rapid development driven by policy support and technological advancements. Nevertheless, it still faces challenges such as technological bottlenecks, international competition, and funding shortages. Its characteristics—long R&D cycles, high risks, and substantial capital investments—are misaligned with the risk-averse nature of traditional financial systems, urgently requiring the support of “patient capital”. Although China possesses a vast pool of long-term capital (e.g., social security funds and insurance funds), systemic gaps prevent these funds from being effectively transformed into patient capital that supports frontier technologies. This study argues that developing patient …