This article is based on Mr. Jia Kang's speech at the 2024 Qingdao Venture Capital Conference (May 28).
Thank you, host! Distinguished Secretary Wang Feng and other leaders, distinguished guests and friends, hello everyone! As a researcher, I would like to talk about some relevant understandings of the theme of innovation leading new quality productivity and accelerating the leap and upgrading of the industrial economy.
First, briefly sketch out your understanding of the concept of "productivity". In fact, everyone is no stranger to this, and the productive forces are the most fundamental and decisive factors that determine social and economic development, production relations, and the evolution of social systems and superstructures. The historical materialism founded by Marx and Engels has given us a rigorous exposition of scientific principles in this respect. After the human society separated from the animal kingdom, there was a specific social productive force, but in the long process of human history, the previous was a very low level, for example, the earliest human beings separated from the animal kingdom is the natural division of labor: men are mainly hunting, women are more suitable for gathering and raising offspring, and finally after the evolution process of more than 2 million years as archaeology says, there was an agricultural revolution 10,000 years ago, and then there was an industrial revolution 300 years ago, and now we are in the era of information revolution. In this process of development, the productive forces are not a smooth upward curve, but a step-by-step "step-by-step" development. Especially after the industrial revolution, the acceleration is very obvious, and after the arrival of the information revolution, our feelings are changing with each passing day. This kind of productive force, which embodies the relationship between man and the natural world, in the process of input-output production, is of course the effective supply of human needs formed by the combination of various factors, and in actual life, the handling of the relationship between man and nature must be closely combined with the processing and evolution of the production relationship between man and man. Historical materialism tells us that the most fundamental decisive factor is that the productive forces determine the development of the relations of production, and the relations of production must adapt to the development of the productive forces and play a dynamic and counterproductive role.
"New quality productivity" is the second concept we want to talk about. This concept was first clearly expressed by the general secretary during his inspection of local areas last year, and at this year's Politburo meeting and the two sessions not long ago, we further saw the importance and emphasis on the new quality productive forces. Of course, there has been a great deal of discussion on many occasions. Its background is obviously that China's modernization must be "innovation and development as the primary driving force" to achieve high-quality development, and it needs to be deeply understood at the basic theoretical level and the close connection between theory and practice. I think there are at least two perspectives:
The first is the new level and new realm of productivity with qualitative change brought about by the step-by-step development formed by the human supply-side innovation. This corresponds to the concept of "new qualitative productivity" and also has philosophical implications. We all know that there is a proposition in philosophy that "quantity becomes quality". The most intuitive thing in daily life is that everyone can not do without water, it is liquid at room temperature and standard atmospheric pressure, and it is still liquid when the water is heated to 99 degrees Celsius, but once it reaches the boiling point of 100 degrees, it becomes another gaseous state, which is a qualitative change. From the perspective of our productive forces, the large division I have already touched upon, the succession of the agricultural revolution, the industrial revolution and the information revolution in the process of acceleration, it can be said that the productive forces provided by each of the latter concepts, compared with the productive forces formed by the previous concept, are all new qualitative productive forces - the productive forces formed by the industrial revolution are obviously new qualitative productive forces compared to the productive forces formed by the agricultural revolution era, and the productive forces formed by the information revolution are compared with the productive forces formed by the industrial revolution. It is a new quality of productivity. For example, we are now in the era of the information revolution, and the productivity supported by the mobile Internet is a new quality productivity compared to the productivity supported by the limited Internet twenty or thirty years ago. At present, there is such a prospect that the electronic computer that people commonly use is very likely to be replaced by a new generation of quantum computers, and once such a situation appears, the productivity supported by quantum computers will be a new quality of productivity compared to the productivity formed by electronic computers.
In addition to the above perspectives, there is another important perspective, that is, the new level and new realm of productivity with qualitative change characteristics brought about by the combination and upgrading of various elements on the supply side in the development of productive forces, which is also closely related to the concept of new qualitative productivity. From the point of view of individual elements, the most prominent is the role of science and technology, Deng Xiaoping said succinctly that "science and technology are the primary productive forces." Scholars have discussed that this can be fully demonstrated by rigorous theoretical exposition. It turns out that everyone knows that the three elements of productivity are labor, labor objects and labor tools, and after science and technology are added, is it an addition to the addition of the four elements? No, the innovative application of scientific and technological achievements is added, it is to do multiplication, it is multiplier, it is amplification, so it is the first. If it is expressed as a formula, it is the content of labor force + labor object + labor tool as a parenthesthesis, which should be multiplied by the application of scientific and technological achievements. In addition, in recent decades, the academic community has paid special attention to the concept of "total factor productivity" in the middle of factor combinations. First of all, it is closely related to the role of science and technology mentioned above, and Solow this scholar noticed that after the contribution of various factors in the quantitative analysis of economic operation in economics, in addition to the contribution of capital and labor is relatively easy to quantify, there is an additional "residual value" that is not easy to quantify, and he believes that this must be related to the contribution of science and technology, and calls such a unified view of various factors from the perspective of science and technology as "total factor productivity". The academic community generally accepts his seemingly simple cognitive framework, and the research group of China's new supply economics in which I belong emphasizes that institutional elements should also be added to this, and the data elements that the central government is now emphasizing should be added, and the total factor productivity involved in the combination of these factors is not the meaning of making an equal view of all factors, but to pay special attention to the role of science and technology multiplier that has been emphasized before, and the premise and supporting role of the system - the system is the "outline" of the economic and social transformation that the mainland must now complete It is the leader of "the first driving force of innovation and development", and the system innovation brings what the leaders say, "we firmly grasp it", "only the reform and innovator win", which is where our "biggest dividend" lies. Such a concept of total factor productivity is obviously a very important angle for us to grasp the new quality of productivity.
If we make a summary of the connotation of new quality productivity, I think it is at least a synthesis of the previous two perspectives. The central government stressed the need to promote the accelerated development of new quality productive forces, including grasping scientific and technological innovation, cutting-edge innovation, and the improvement of total factor productivity, and must pay special attention to hedging the decline in the support of traditional supply factors such as labor, capital, and natural resources in China's development, and form a new power source for upgrading and development. In this regard, it is necessary to organically combine institutional innovation, scientific and technological innovation, management innovation, and ideological innovation. At the Politburo meeting, when the general secretary further elaborated on the new quality of productivity, there was such a passage, which I think can be regarded as the definition of the new quality of productivity, that is, the new quality of productivity is "born by the revolutionary breakthrough of technology, the innovative allocation of production factors, and the deep transformation and upgrading of industries, with the leap of laborers, labor materials, labor objects and their optimal combination as the basic connotation, and the substantial increase in total factor productivity as the core symbol, characterized by innovation, the key is high quality, and the essence is advanced productivity". In the future, we need to further understand and comprehend the rich content of this in connection with theory and practice.
At the third level, I will briefly report on how to accelerate the development of new quality productive forces and accelerate the upgrading and development of a modern industrial system during the critical period of China's modernization.
First of all, I think China should emphasize that institutional innovation under the concept of "emancipating productive forces" is the leading factor in the development of new quality productive forces. In order to obtain the greatest dividend of reform, we are faced with how to build a high-level socialist market economic system in accordance with the requirements of the 20th National Congress of the Central Committee and implement a combination of institutionalized and high-level opening up, which is a major prerequisite for our sustainable upgrading and development. In the deep-water area of reform, it is needless to say that the difficulty of promoting reform is very obvious, and the real implementation of so many reform guidance documents over the years can be called difficult, but we have no choice but to overcome difficulties. The Central Committee has a very clear requirement to plan a new round of major reforms, and the Politburo meeting has given a timetable, the Third Plenary Session of the Central Committee will be held in July, and a programmatic document for deepening reform will be launched to guide the overall situation. Of course, we have to seize this opportunity. To develop new quality productive forces, we must first start with institutional innovation and bring out the further emancipation of the productive forces supported by the entire innovation system.
Secondly, I think it is necessary to emphasize that the breakthrough of scientific and technological innovation in the application of scientific and technological innovation achievements is the key to the development of new quality productive forces. We must make a rational combination and match of the strategy of catching up and overtaking and the strategy of comparative advantage, and give full play to the important role of science and technology as the primary productive force. From a global point of view, it must be admitted that the world's number one power, the Silicon Valley of the United States, is leading the trend of the information revolution, and now we are still trying to catch up. In the government work report of the two sessions this year, the original concept of "Internet +" was upgraded to the concept of "artificial intelligence +", which is the concept at the forefront of the information revolution. In such a tide of innovation and competition, there is a corresponding concept of "digital and real integration", which is at the forefront of the head platform, we must admit that it is a few, but it plays a great role. If you look at the United States, which is at the forefront of the world, that is, there are more than ten head platforms, and there are only five or six of the most well-known, and the same is true for China, the first three giants, now together are about 10. However, these platforms have pulled up the clusters behind specialization, refinement, and innovation, and the upgrading and development of the whole industrial chain, and changed the position of China's main production capacity on the "smile curve" of the global value chain, relying on their leading role.
For this kind of digital-real integration and the development of the entire industrial cluster, the support of venture capital and venture capital is a very important theme word for our conference, which is the specific direct financing mechanism that will play a leading role in the cutting-edge innovation of the digital economy. The central government has long said that it will increase the proportion of direct financing in China. What is indirect financing better suited for? It is mainly the entrepreneurial innovation done by enterprises in the relatively early stage of development, and when the digital economy is booming, what are the characteristics of the cutting-edge innovation? The success rate is very low, or in other words, the risk is extremely high, but once the success is all right, the whole situation changes. Projects with such risk characteristics are basically not suitable for bank loans with indirect financing. Bank loans are all familiar to us, and they have been an important financing method for many years, accounting for 80% of the entire financial supply in China, but it must be admitted that it is mainly suitable for entrepreneurship and innovation in the early, early and middle stage of development. There is a heavy moral pressure on bank lending: what is the source of its use? It is the so-called people's hard-earned money, and in the process of using the people's hard-earned money from the reserves, the strictest risk control must be implemented. Therefore, for the signatories in the risk control link, a constraint has long been formed called "lifelong recourse of responsibility", if you sign it, as long as you are still alive, there is a problem with the loan, you must be asked. I also specifically asked the comrades in the financial system: how can he take responsibility? How much can he compensate for his own salary? The response was that it was not a question of wage compensation, it was a question of jail time. It is conceivable that in that position, the signatory must be the "pawnshop thinking" criticized by Ma Yun, and he would not dare to sign without collateral, and I must be "pawnshop thinking" when I sit there. It is this pawnshop thinking mechanism that has successfully ensured the safety of these people's savings funds in the process of use, but at the same time, we must admit that it is not suitable for the risk characteristics of cutting-edge innovation in the era of information revolution and the ever-changing era of artificial intelligence +. What is it that can really be adapted? It is equity investment, venture capital, and venture capital in direct financing, and we call angel investment at the forefront.
At the beginning of China, Alibaba's company, which had a global impact, soared into the sky, and people called the pig on the tuyere rushed up without wings. While the whole world is alive, what do you know? Ma Yun had a very painful process of trying to break through the bottleneck period at that time, and wherever he went, people regarded him as a liar, but he said in his early 30s that he moved the Korean-Japanese Masayoshi Son, and Son's angel investment gave him 20 million US dollars to help him break through this bottleneck period - and after rushing through the bottleneck period, he soared, and in less than two years, I saw reports that Son's equity has exploded into a wealth of nearly 60 billion US dollars. It was nearly 3,000 times the explosion, but at the same time he took a very high risk: in this way, he later had a big deal in India, and finally lost all his money, and after leaving the wheat city, he had to sell high-quality Ali shares to fill the hole in India. This kind of risk has nothing to do with the so-called hard-earned money of the common people, that is, a non-governmental entity, with specific entrepreneurial characteristics, dares to gamble and admit defeat, and is willing to raise funds and make decisions after making his own judgment to take this risk. Such venture capital, venture capital, and angel investment are now self-evidently scarce for China. However, we must pay special attention to the guidance of China's further catch-up and overtake strategy, and we cannot but pay attention to the proportion of direct financing that must be increased to support the most cutting-edge digital and real integration innovation, and we must pay special attention to equity financing, venture capital, and venture capital in this direct financing.
The simplest thing about the whole development trend is to look at the smile curve. We have developed to the position of "the world's factory" with the largest scale of the world's manufacturing industry brought about by the liberation of productive forces brought by the reform and opening up, but it is still "big but not strong" - we have such a huge manufacturing industry, and we are not lacking in the 666 subdivided industries copied by the World Bank, which is our advantage, but in the middle of the entire global division of labor, the so-called supply chain industry chain is in the middle of the main production capacity. The smile curve is an empirical curve represented by statistical phenomena, and the horizontal axis is to mark the entire process of adapting to the demand side of the supply side, from the beginning to have creative innovation, creative innovation successfully forms a loud brand, and docks to the back of the large-scale processing and production, the finished product enters the market, and then to the end of the brand marketing, after-sales service and market expansion, the vertical axis represents the rate of return in different positions. A large number of statistical phenomena show that the two ends are high and the middle is low, similar to the shape of the mouth when a person smiles, so it is called "smile curve".
At the beginning of China's reform and opening up, we were able to join the entry point of the global supply chain and value chain, which must be in the central part of the country, and we did not have the ability to cut in from the left and right. At the beginning, the "three to one supplement" two ends, big in and out, relying on the low labor cost and low land represented by the comprehensive development of natural resources that we have a relative advantage in terms of production factors, to attract people to take funds - that is, to pursue appreciation of capital, coupled with the people's ready-made management experience, technological achievements, product solutions, to form processed finished products in China, and then sell them to both the Chinese market and the global market, which brings China our own original accumulation process. It not only enables us to have a trend of further development of the productive forces, but also brings a very valuable awareness of the commodity economy that supports the long-term development, the rule system of commercial civilization of the market economy system that has been accumulated over hundreds of years, and also promotes the innovation of national ideology and concepts, and brings about the process of cultivating human capital, and so on. Such a development has come to the present, we have to admit that although we have a considerable share of the world's manufacturing industry, we are still lagging behind in terms of cutting-edge competitiveness. The so-called "big but not strong", how can it change? Intuitively speaking, we need to push our position to the left and right high-end on this curve, and "Made in China" should be upgraded to "Created in China" and "Intelligent Manufacturing in China". From practical examples:
China has long had a high share of 85%-90% of the global children's toy market with our output, but after so many years, if we look at the children's toys produced in China, do we have any brands that are well-known? Can't think of it. Not long ago, Hollywood launched a film with this Barbie as the concept, forming a part of people's cultural soft power, and it has risen to more philosophical thinking - various discussions on gender relations in human society.
Most of the popular Apple mobile phones in the Chinese market are produced in the Chinese market, and I have also seen actual scenes in the processing of large quantities of Apple mobile phones in China, such as the site invested and built by Guo Taiming near Zhengzhou (now I heard that it is being relocated), at that time, according to the order needs to have more than 300,000 jobs, three shifts 24 hours a day, a steady stream of production and marketing of Apple mobile phones and other Apple electronic products that consumers around the world are very happy to accept. Of course, it should be admitted that the government and people in Henan over there have obviously benefited from this, and the people have more than 300,000 original so-called low-end grass-roots employment opportunities (and this kind of employment is relatively decent, and the wages are relatively satisfactory), there are taxes that the government must have to perform its functions, and there is GDP growth that is indispensable for our economic prosperity, but I'm sorry, the rate of return is the low level in the middle, and the high-end of the left and right is firmly in the hands of the Americans.
After these years of hard work, we have also made some breakthroughs and progress worthy of affirmation. For example, in the past, China was obviously backward in terms of automobiles, and after joining the WTO, it danced with wolves and had a vigorous development situation, but in the past period of time, the brand that cooperated with foreign capital was still relatively loud. Guangben produced by Guangzhou automobile manufacturers, the market reputation is very good, I have served as the director of the scientific research institute of the Ministry of Finance for more than ten years, I sit in the Guangben to the cumulative mileage of more than 600,000 kilometers without overhaul, usually there is basically no small problem, it is pleasing to the eye, and it is fuel-efficient to drive, of course, there are many positive points. But I'm sorry, this Guangben, the Chinese take the low income in the middle position, and the Japanese hold the high-end income left and right. I also went to this factory for research, and later I saw that what they called "introduction, digestion, absorption, and re-innovation", and strive to launch their own new product series with completely independent intellectual property rights, finally made a leap in practice. A model called GAC Chuanfu in the series of completely independent intellectual property rights has sold very well, and hundreds of thousands of units have been shipped every year for many years. I made a comment of my own, thinking that this brought an opportunity: whether it was possible to consider stabilizing this competitive advantage and moving the production line to Southeast Asia. In fact, Musk, the entrepreneur known as the male god in the United States, suddenly signed a contract in China when the so-called "trade war" was tense and built the world's largest foreign-invested single factory in Shanghai to produce Tesla new energy vehicles, which is the same type of strategic design framework. Not long ago, I attended the Automotive Carbon Neutrality Forum in Guangzhou, and I was very pleased to see that there was a prototype car from GAC, and they said that the Guangzhou manufacturer had made up its mind to put the production line in Thailand. This is a new multinational company structure, to better reduce their comprehensive costs and firmly grasp the high-end benefits, is this a leap forward? Such an affirmative progress intuitively represents the new realm that we should pursue in the so-called upgrading and development of China and the integration of data and reality.
Seize the time to briefly outline the third point: There must be management innovation in investment, financing, and economic operation that is implemented to the point that "details determine success or failure," and this is a pragmatic guarantee for us to develop new quality productive forces. It is necessary to have a high level of enterprise decision-making and operation management under the orientation of fully affirming and vigorously promoting the entrepreneurial spirit. This kind of regulation and management at the macro level is also the modern essence under the concept of macro governance. The operation and positive effects of such new quality productivity should take root and blossom in China through management.
If you say a little more, I don't know much about the development of Shandong and Qingdao in recent years, but in general I know that Qingdao has a good foundation for industrial development, and we have been working hard over the years, but to tell the truth, we have not seen the birth of head enterprises in Qingdao that are enough to affect the overall situation, and this kind of head enterprises can not be cultivated where they want to plan. In the past, I have participated in the overall strategic discussion of the concept of "Zhongguancun" in Beijing at the national strategic level, and Shanghai has the Zhangjiang Development Zone early, and these two national levels pay special attention to the innovation and growth pole area, which should be said to have a series of achievements, but there has not been a real head enterprise, but there are Shenzhen, Hangzhou, there are very global impact of the head enterprise, what is this called? It is "intentionally planting flowers and flowers, and unintentionally planting willows and willows". It is difficult for us to imagine where the design is located, and it will definitely allow a leading enterprise to emerge, but do we want to create a high-standard law-based business environment through the above-mentioned several levels of innovation, and strive for the possibility of such enterprises emerging in Qingdao, Shandong. Can the current gazelle develop into a unicorn: Is it possible for a leading enterprise to emerge in the unicorn group? This is all unknown, but what we need to do and what we can do must be to understand the laws in this area and create such a high-standard law-based business environment with essential prerequisites.
The fourth point is related to this, we must break through the obstacles and inert constraints of vested interests, and realize a new round of emancipation of the mind and another round of conceptual innovation. The leaders have repeatedly stressed: We should re-emancipate our minds, do our work in a more down-to-earth manner, and carry out more in-depth reforms. I understand that in re-emancipating the mind, it is necessary to better grasp the essence of Marxism, "seeking truth from facts," to break away from formalism and bureaucracy in the spirit of seeking truth from facts, and to bring about a new situation of emancipating the new productive forces with greater vigor and vitality.
In terms of the trend of the development of the digital economy and its economic and social value, we have a series of points that deserve further understanding, and there is also a practical issue of pros and cons. In the process of rapid development and change, it has been seen that the result of global investors voting with their feet is that the head enterprises of the digital economy are now the leader, and the United States, as the number one power, is now in the forefront of the five companies in the market value on its stock market, all of which are the head enterprises of the digital economy. We in China are also trying to catch up, and the concepts of "primary productive forces" mentioned by Deng Xiaoping, the "revolutionary power" of science and technology shown in Ma's original works, the "disruptive innovation" advocated by entrepreneurs, and the "creative destruction" impressive by Western scholar Schumpeter are actually the same in connotation. The understanding of the new quality productivity that I have repeatedly emphasized is an intuitive step curve, indicating that it is a step by step jumping upward, rather than a relatively smooth curve from low to high. In the face of this test, we must pay attention to understanding the economic and social value of China's digital platform, and after completing the rectification, we must follow the requirements of the central government to vigorously catch up.
As a conclusion, I think I want to talk about my basic understanding of the following points: first, to meet the Third Plenary Session, we should unswervingly continue to make great strides to keep up with the times, in accordance with the requirements of the latest Politburo meeting, in the case of many discussions on the new quality of productive forces, and to continue to discuss, we should pay special attention to "adapt measures to local conditions" - it is no longer a simple statement and general concept of discussion, and adapting measures to local conditions is in concrete, each of our local government districts, every industry and field, In the track and scene that every enterprise enters, how should we combine the efforts we have to do to promote the development of new quality productivity in the middle of entrepreneurship and innovation. Such a "digital and real integration", for example, in our Qingdao, and in the interaction between Qingdao and the entire unified market, the main body of venture capital and venture capital, the guidance and support given by the government in this regard, and the main body of the government's role, etc., should strive to form a dynamic optimization of customized solution design. This is an essential top-level plan. In the process of promoting the optimization of new quality productivity dynamics, local conditions are adapted. Second, after "taking measures" according to their own specific circumstances, there is another thing that must be paid special attention to unswervingly continue to support the innovation and development of the private economy and private enterprises, and promote the coexistence, co-prosperity and common development of state-owned enterprises and private enterprises to abandon the thinking of "who advances and who retreats". We may have to admit that this kind of cutting-edge artificial intelligence + project with a very high risk degree and low success rate is the most suitable subject for trial and error and striving for innovation success in the past experience. Although state-owned enterprises have their comparative advantages, state-owned enterprises should pay more attention to the fact that the standard of safety in the process of state-owned capital operation should be significantly higher, and they should make collective decisions. To tell the truth in this regard, for this kind of high-risk project, its adaptability is relatively low, and as long as one person disagrees, the whole process will drag on. Private enterprises have a comparative advantage in this regard. Therefore, the head enterprises that are now rushing out in China are what people generally call private enterprises - in fact, they have already begun to have diversified equity in mixed ownership, and this kind of equity will be more and more mixed in the future, which is not a question of who advances and who retreats, but the main form of public ownership and common development that the central government said. Third, after the leading enterprises in the mainland lose no time in completing the rectification, the relevant management departments should further launch a number of "green light" projects in accordance with the requirements of the central government, and vigorously promote the industrialization of the digital economy and the digitalization of the industrial economy with the integration of data and reality as the key word, so as to achieve the upgraded version of high-quality development. Correspondingly, giving full play to the role of venture capital and venture capital is the theme of our conference. In the middle of industrial upgrading, we must do a good job in the potential of the direct financing mechanism of venture capital and venture capital - this kind of venture capital and venture capital, of course, is also facing the world, there are our local, there are overseas, there are all aspects worthy of their attention to the Chinese market and specific projects in the Chinese market, we will strive to face China's objective growth, subjectively unswervingly implement the basic national policy of reform and opening up, in the revitalization of China's industrial upgrading and development, Plug in the wings of new quality productivity for China's modernization.
Please criticize and correct these views, thank you!
Expert Profile
Jia Kang, a well-known economist, is a member of the 11th and 12th National Committee of the Chinese People's Political Consultative Conference, a distinguished expert of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC), the founding president of the Huaxia Institute of New Supply Economics, and a researcher and doctoral supervisor of the Chinese Academy of Fiscal Sciences.
Since 1985, he has worked in the Research Institute of the Ministry of Finance, successively serving as Deputy Director and Director of the Research Office, Deputy Director of the Research Institute, and Director from 2001 to 2014. He has decades of rich experience in the theoretical and policy research fields of national economy, finance and taxation, finance, and public affairs.
In 1988, he was selected for the Heinz Foundation and went to the University of Pittsburgh as a visiting scholar for one year.
In 1995, he received a special government allowance.
In 1997, he was rated as a high-level academic leader of the National Millions of Talents Project.
He has participated in the research work of formulating national economic policies for many times, presided over or participated in a number of projects at home and abroad, and has written and published dozens of monographs and hundreds of papers, thousands of financial manuscripts and interviews.
On June 24, 2002, he was invited by Premier Zhu Rongji to discuss economic work.
Since 2003, he has been invited by Premier Wen Jiabao to discuss economic work many times.
In 2006-07, he was twice invited by General Secretary Hu Jintao to discuss economic work (known as "Zhongnanhai Questioning" by the media).
Since 2013, he has been invited by Premier Li Keqiang to discuss and advise Premier Li Keqiang on economic work according to the arrangement of the National Committee of the Chinese People's Political Consultative Conference.
He is the winner of the Sun Yefang Prize in Economics, the Huang Da-Mundell Prize in Economics, and the China Soft Science Award
On January 8, 2010, he was one of the commentators of the 18th collective study of the Political Bureau of the CPC Central Committee on the topic of "Reform of the Fiscal and Taxation System". /
Participated in the symposium of philosophy and social science workers presided over by General Secretary Xi Jinping on May 17, 2016.
State (Member of the Expert Committee of the 11th Five-Year Plan, the 12th Five-Year Plan and the 13th Five-Year Plan. Member of the Expert Committee of the PPP Expert Database of the National Development and Reform Commission. Former Vice President and Secretary-General of the Chinese Fiscal Society. Member of the Expert Committee of the PPP Expert Database of the National Development and Reform Commission. Distinguished experts, consultants or advisory members of the people's governments of Beijing, Shanghai, Fujian, Anhui, Tibet, Guangxi and other places, and distinguished professors of Peking University, Chinese Renmin University and other universities.
In 1995, he was granted a special government allowance. In 1997, he was rated as a high-level academic leader of the National Millions of Talents Project. He is the winner of the Sun Yefang Prize in Economics, the Huang Da-Mundell Prize in Economics, and the China Soft Science Award.
In 2013, he edited "New Supply: China's Innovation in Economic Theory", initiated the establishment of the "Huaxia Institute of New Supply Economics" and the "New Supply Economics 50 Forum" (served as the first president and the first secretary-general), and co-authored and published the monograph "New Supply Economics", "Supply-side Reform: A Concise Reader of New Supply" with Su Jingchun from 2015 to 2016, and "China's Hurdles: How to Overcome the "Middle-Income Trap" (awarded the "2016 China Good Book" by the China Book Critics Society and CCTV). In 2016, the Ten Lectures on Supply-side Reform was rated as a national excellent textbook by the Organization Department of the CPC Central Committee, the State Administration of Press, Publication, Radio, Film and Television and the National Library. In 2021, he co-authored and published "The New Development Pattern of Dual Circulation" with Liu Wei, which was rated as the "China Good Book" of the year and the national excellent textbook for party building. According to the big data statistical analysis of more than 700,000 documents in 6,268 academic journals of philosophy and social sciences in mainland China in 2006~2015 published by the Chinese Social Science Assessment, Mr. Jia Kang ranked first in the number of articles published (398 articles), the total citation frequency (4,231 times) and the total download frequency (204115 times), and the comprehensive index was 3,429, ranking first, and he was a representative scholar among the core authors of economics.