On April 15, the China Industrial Economic Federation held an online series forum titled "Revitalizing the Industrial Economy in Response to the Pandemic's Heavy Blow - Analysis of China's Industrial Economic Operation Situation." The forum mainly summarized and analyzed the operation of the industrial economy in the first quarter and the future operational situation, ensuring that China's industrial economy has goals to strive for and plans to execute.

　　01 The chemical industry remains a top priority

　　Li Shousheng, president of the China Petroleum and Chemical Industry Federation, pointed out that China is the world's largest chemical market, accounting for 40% of the global market. Due to the impact of COVID-19, production in the chemical industry has faced obstacles; therefore, it is necessary to accelerate the resumption of work and production in this sector. However, a decline in productivity is not the primary issue for resuming work; insufficient market demand is the core contradiction. President Li emphasized expanding new products, developing new technologies, and creating new demand. The primary task for the chemical industry in 2020 is to retain major clients and high-quality customers while exploring new demands, actively innovating, and optimizing services. He also stressed grasping technological high points in the industry to enhance market demand development capabilities and promote demand along both upstream and downstream of the industrial chain while integrating environmental protection, energy conservation, and safety into all aspects of the chemical industry.

　　02 Implementing 'New Infrastructure' to Win Markets through Technological Development

　　During the meeting, several experts mentioned the term 'New Infrastructure.' 'New Infrastructure' refers to new types of infrastructure construction characterized by distinct features of our time: first is new technology; a new era requires a new round of high-tech innovations, especially next-generation information technology; second is new demand; new infrastructure serves as a foundation, tool, and weapon with digital infrastructure providing support functions; third is a new mechanism; 'New Infrastructure' represents a deep integration of information technology with manufacturing technology.

　　03 Expanding domestic demand and encouraging rational investment

　　Li Yizhong, president of China Industrial Economic Federation pointed out that consumption, investment, imports and exports are three major drivers for economic development. In recent years fixed asset investment reforms have achieved results but also encountered some issues. Last year saw sluggish growth in fixed investment with an actual growth rate of only 2.8%, while some regions experienced significant reductions in investment; nominal growth in industry was at 3% but practically close to zero; private investment willingness was weak with its share dropping from 62% to 56%; investment efficiency declined as well. The conversion rate from investment formation capital fell from 75.7% (2006-2010) to 61.4% (2018). Therefore national policies have been introduced to encourage investments but President Li highlighted four issues that need attention: first prevent blind investments that do not align with regional strategies or reasonable arrangements; second make cautious decisions on reinvestment; third leverage institutional advantages to stabilize funding sources while preventing debt risks; fourth integrate with enterprises' new rounds of technological transformation.

　　04 Upstream and downstream promote development in paint industry as it enters tech-driven '5G' era

　　In China's industrial development context, as a downstream sector within chemicals and an upstream sector for industries like automotive under 'New Infrastructure,' paint manufacturing has also been vigorously promoted. With technological reforms across both upstream and downstream sectors alongside necessary self-reforms within paint manufacturing itself, it will usher in a brilliant '5G' era. In future developments driven by artificial intelligence and life sciences will become mainstream within industrial progress while national governments are striving towards creating 'smart cities.' For rapid advancement within paint manufacturing it must closely follow mainstream technological trends integrating technology with intelligence across all levels including production processing construction services etc.; employing intelligent digital management teams will enable Chinese paints to lead globally.