China should seize opportunities to make full use of homegrown tech

More importance should be attached to industries that feature higher investment and lower returns in order to stimulate economic growth in China, especially as COVID-19 abates in most parts of the country.

"National economy" level industries can be divided into four categories. The first features high input and output, the second high input and low output, the third boasts low input and output and the fourth has low input and high output. Proportion of different categories varies in accordance with the economic structure in different countries.

In most industries, other than a few exceptions including high-speed railways and 5G, China still occupies a limited market share compared with developed countries, especially on a per capita basis. Therefore, growth of the Chinese economy is driven by the overall potential of industries in all categories.