Hong Yinxing believes that Changzhou's economic growth should be higher than 6.5% to mobilize the demand for private investment. The supply-side structural reform has three goals of improving total factor productivity, increasing effective supply, and releasing enterprise vitality. Changzhou can achieve this through structural adjustment and optimization, technological innovation, and tax cuts and fee reductions. Since industrial competitiveness is more important than corporate competitiveness, the key to fostering Changzhou's competitive advantage is to develop emerging industries that are in a leading position in this era and form a modern industrial system with independent innovation capabilities. The task of shifting the industry to the medium and high-end is urgent, so Changzhou must focus on innovation to cultivate new dynamic energy: firstly, rely on research universities to obtain core technologies for new industries; secondly, coordinate industry-university-research collaborative innovation to incubate new industrial technologies; thirdly, integrate scientific and technological innovation and entrepreneurship; fourthly, create an ecosystem of technological entrepreneurship.
