The 2023 Zhongguancun Forum (ZGC Forum) closed on Tuesday in Beijing's innovation hub of Zhongguancun, known as "China's Silicon Valley." At the press conference on major scientific and technological achievements, several achievements were officially announced. These include foldable glass, sodium-ion batteries, and a new generation of artificial suns.

Additionally, the Beijing Zhongguancun Comprehensive Bonded Zone was announced to be officially approved by the State Council for establishment. This is the first comprehensive bonded zone in China to feature research and development (R&D) and innovation.

In 2022, China's total expenditure on R&D exceeded the 3-trillion-yuan ($437 billion) mark for the first time, up 10.4 percent year on year, according to the National Bureau of Statistics.

In the past several years, China has fostered a batch of new growth engines in sectors of artificial intelligence, biotechnology, new energy, new materials, and high-end equipment to drive development. By effectively unleashing innovation momentum, China is continuously exploring new frontiers and paving the way for development in new sectors.

By 2022, China had secured the top position globally in terms of the number of patent applications filed for AI technologies, with the scale of the core AI industry surpassing 500 billion yuan (about $70.66 billion), while more than 4,200 major enterprises operated, comprising approximately 16 percent of the global total.

China used to be trailing in many fields but the situation is now changing. China has its own understanding of how to develop technology, said Gai Keke, a professor at the School of Cyberspace Science & Technology of Beijing Institute of Technology. For example, in the use of artificial intelligence, many developments are based on national and market needs, he added. 

Running from May 25 to 30, the 2023 ZGC Forum has drawn top scientists, institutions, and well-known innovation and entrepreneurship entities globally to discuss international cooperation on sci-tech development and innovation.

The forum's sideline exhibition has attracted the participation of about 650 enterprises and institutions worldwide to showcase their cutting-edge sci-tech advances and achievements in information technology, intelligent manufacturing, medicine and health, and the digital economy.

(With input from Xinhua)