--- title: "Cultivating Future Industries to Seize Development High Ground" type: "News" locale: "en" url: "https://longbridge.com/en/news/279503377.md" description: "This year's \"Government Work Report\" proposed the establishment of a growth and risk-sharing mechanism for future industry investments, cultivating industries such as future energy and quantum technology. Future industries are forward-looking and disruptive, requiring a combination of government and market efforts to ensure an environment of innovation and competition. Through policy guidance and precise support, specialized and sophisticated enterprises will be nurtured, strengthening the market demand's pull on technological research and development. At the same time, a future industry fund will be established to ensure basic research and promote technology transformation and application" datetime: "2026-03-17T23:30:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279503377.md) - [en](https://longbridge.com/en/news/279503377.md) - [zh-HK](https://longbridge.com/zh-HK/news/279503377.md) --- # Cultivating Future Industries to Seize Development High Ground This year's "Government Work Report" proposed to "establish a mechanism for the growth of investment in future industries and risk sharing, and cultivate and develop future industries such as future energy, quantum technology, biomanufacturing, embodied intelligence, brain-computer interfaces, and 6G." In today's world, a new round of technological revolution and industrial transformation is accelerating breakthroughs, giving rise to a number of future industries that are crucial to strategic overall planning and long-term development. Future industries are characterized by foresight, strategic significance, and disruptive potential. Whoever can achieve a breakthrough from "0 to 1" first will seize the high ground of the industry. Developing future industries has unique advantages in the market, as enterprises are closest to demand and can perceive technological prospects and user pain points more quickly and sensitively, making them the best "protagonists" of innovation. However, the market mechanism emphasizes efficiency and returns. If we rely entirely on the spontaneous adjustment of market mechanisms, capital may be unwilling to enter, talent may be difficult to gather, and technology may easily "die" in its infancy. Especially for future industries driven by cutting-edge technologies, the cultivation cycle is long and market risks are high. For example, future industries such as quantum technology, biomanufacturing, and brain-computer interfaces often experience rapid technological iteration, have light asset structures, and face high uncertainty in prospects, posing fundamental challenges to traditional financial service models that rely on historical financial data and fixed asset collateral. Therefore, in developing future industries, we must believe in market forces while also requiring government support and protection. It is essential to combine an effective market with a proactive government, broaden the space for innovation development, strengthen the rules, and continuously improve the governance system for future industries to ensure that we can both "let go" and "manage well." On one hand, we need to respect market laws and provide strategic planning and policy guidance to "point the way and build the platform," ensuring that enterprises can "dare to explore and try" in a fair competitive environment, focusing on technological breakthroughs and value creation. For instance, by using methods such as "enterprise profiling," we can provide precise support based on industry, field, and scale, cultivating a large number of specialized, innovative, and high-growth enterprises that focus on niche markets and core businesses. At the same time, we should strengthen the role of market demand and scenario applications in driving technological research and development, and build a number of specialized, market-oriented high-quality concept verification and pilot testing platforms for future industries to enhance the capabilities of technology maturation, engineering scaling, prototype manufacturing, and commercial validation. On the other hand, to "support" basic research, we need to leverage the effects and guiding role of fiscal funds by establishing national-level investment funds such as future industry funds to ensure original innovation investment from "0 to 1." We also need to set up a "safety net" for social capital, smooth out venture capital exit channels, improve risk-sharing mechanisms, explore the establishment of special funds for future industry investment risk compensation, and vigorously develop technology insurance to reduce market risks for enterprises applying new technologies and products. Additionally, by improving a precise, efficient, and collaborative toolbox of future industry policies, we can establish a collaborative mechanism for fiscal, financial, talent, and regulatory policies, forming a comprehensive, multi-dimensional policy support system for future industries The future industry is the high ground of great power competition and a new driving force for high-quality development. Cultivating the "future" is a long-distance race that tests strategic determination. The seeds have been sown, and next, we need to base ourselves on objective conditions, leverage comparative advantages, adhere to a steady progress approach, cultivate in gradients, and make forward-looking layouts and developments in future industries. Let market vitality flow fully, and let policy guidance be precise and efficient. The future industry will inject more surging momentum into Chinese-style modernization. (Author of China Economic Net column, Qiao Ruiqing) **Economic Daily - China Economic Net Commentary Theory Channel is open for submissions. Original commentaries and theoretical articles can be sent to cepl#ce.cn (replace # with @). 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