BEIJING, April 26, 2024 /PRNewswire/ -- A news report from China Daily:

Greater efforts are needed to strengthen international cooperation in science and technology, explore ways of jointly solving important global issues through technological innovation, and develop new quality productive forces, said officials, experts and company executives on Thursday in Beijing.

Addressing the opening ceremony of the 2024 Zhongguancun Forum, Vice-Premier Ding Xue­xiang said China is willing to work with the international community to practice the concept of open, fair, just and nondiscriminatory international sci-tech cooperation, and to jointly build a global sci-tech community.

The country will explore a new model regarding mutually beneficial global cooperation in sci-tech innovation, and will break down barriers restricting the flow of knowledge, technology, talent and other innovative factors, to jointly create an open innovation ecosystem.

Yin Li, secretary of the Communist Party of China Beijing Municipal Committee, said the capital will ramp up efforts to improve its innovation capacities, accelerate the building of world-leading science and technology parks, increase investment in basic research and make breakthroughs in core technologies in key fields.

Data from the Ministry of Science and Technology showed that China's research and development investment exceeded 3.3 trillion yuan ($455.4 billion) in 2023, up 8.1 percent year-on-year, and the spending on fundamental research reached 221.2 billion yuan, an increase of 9.3 percent over the previous year.

China's strength in scientific and technological innovation has taken a major leap in recent years. Marco Aleman, assistant director-general of the World Intellectual Property Organization, said China is a powerhouse of innovation that contributes to global growth and sustainable development.

According to WIPO, the country stands as a global innovation leader, ranking 12th in the Global Innovation Index 2023, and it owned 24 of the top 100 science and technology clusters globally by the end of last year, ranking first in the world for the first time.

Quarraisha Abdool Karim, president of the World Academy of Sciences, said ensuring a sustainable future through partnership and cooperation creates an opportunity for all participants to explore new pathways toward achieving the United Nations' Sustainable Development Goals.

Lei Jun, founder and CEO of Chinese tech company Xiaomi Corp, said the company will continue to step up investment in R&D and strive for breakthroughs in core technologies.