Grasping Opportunities And Facing Challenges, Private Enterprises in All Regions Advance Innovatively

Develop the digital economy and adapt to market changes. Private enterprises across the country are aiming at opportunities, accumulating momentum, and advancing innovatively to achieve high-quality development.
At Tencent in Shenzhen, the staff is using the new naked-eye 3D technology newly developed by Tencent Conference to upgrade the video conference. After continuous technical iteration and update, Tencent Conference can support tens of millions of people online at the same time.
Three years ago, the initial development team of the Tencent Conference had only a few dozen people, but as the demand surged hundreds of times a day, Tencent quickly mobilized more than 130 technical experts, took advantage of innovation, and updated 20 iterations in less than 100 days. version, within two months, the number of daily users of Tencent Conference quickly reached 10 million.
Behind the competitive products is Tencent's persistence in technological innovation. In the past three years, the average annual growth rate of Tencent's R&D expenditure has exceeded 30%, and the total investment in R&D has exceeded 150 billion yuan. Among the employees, nearly 70% are technical R&D personnel.
In 2020, with the support of national and local policies to encourage the development of convenient office and other related policies, new products and new formats will continue to emerge. Today, aiming at the development trend of future technology, Tencent has established seven security laboratories and four AI laboratories. As of the second quarter of this year (2022), Tencent has filed more than 57,000 patent applications in major countries and regions around the world, of which invention patents account for more than 90%.
In Shanghai, Yuexing Group, whose main business is the service industry, operates more than 200 large-scale commercial platforms across the country. In the past two years, due to the lack of passenger flow, the development of the industry has been impacted. In the face of challenges, Yuexing Group has based itself on the traditional business sector, made up for its shortcomings, empowered new capabilities, and invested in the upgrading and transformation of several major commercial complexes during the off-season sales, introducing them to the world New brand, upgrade consumption experience.
The Central Economic Work Conference proposed to expand domestic demand and prioritize the recovery and expansion of consumption, which allowed Yuexing Group to see new opportunities for development. Focusing on the foundation of traditional business and cultural tourism, Yuexing Group will increase investment in multiple fields, and will build more than ten large-scale commercial platforms in the northeast and central and western regions to strengthen its main business; at the same time, it will open up a new frontier for digital retail and expand its business Expand to multiple fields such as exhibitions and cross-border logistics.