SFC Markets and Finance | Fan Gang: We need to develop new patterns in traditional industries

南方财经全媒体记者杨雨莱 广州报道

"We indeed need to pay more attention to the development and reform of traditional industries themselves." Fan Gang, the President of China Development Institute (CDl) in Shernzhen (China) shared his insights on the upgrading of traditional industries with SFC journalist during the conference.

Guangdong is hosting its annual High-quality Development Conference on February 5, the first working day after the Chinese New Year holiday, in Guangzhou.

Fan pointed out that Guangdong faces many challenges, for instance, in each industry, there are numerous enterprises that compete fiercely with each other, leading to thin profits and difficulties in continuing innovation.

Thus, he suggested that more efforts are needed in the upgrading, including policy efforts, further market expansion, and more encouragement for the involvement of equity investment funds. "We can not only apply new technologies in traditional industries but also develop new patterns within them. "

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