Although the current downward pressure on my country's economy is increasing and the causes are complex, the fundamentals of my country's economy, which is stable and improving, and has long-term growth have not changed. It has sufficient potential, great resilience, strong vitality, large room for maneuver, and policies. The basic feature of having many tools has not changed, and the multi-faceted advantages and conditions for my country’s development have not changed. We are fully qualified and capable to overcome the current difficulties and challenges we are facing and stabilize the macroeconomic market.
The factors of production are supported. From the perspective of labor force factors, our country has a working-age population of 880 million with an average age of 38.8 years old. The demographic dividend still exists. At the same time, talent dividends are being formed and released at an accelerated pace. In 2021, the average number of years of education for my country's working-age population will reach 10.9 years. The population with college education will exceed 218 million. There are about 10 million college graduates every year. A large number of strategic scientific and technological talents, scientific and technological leaders, and young people are at the international level. Scientific and technological talents and high-level innovation teams are being formed.
Innovation and entrepreneurship are dynamic. In 2021, the national R&D investment intensity was 2.44%, reaching the average level of developed countries; 696,000 invention patents were authorized, five times that of 2010, with an average annual growth of 16%. In recent years, our country has established an average of more than 20,000 new companies every day, and the number of market entities nationwide has exceeded 150 million. A number of companies with promising prospects have emerged. The scale of early investment and venture capital continues to grow. In 2021, the scale of private equity and venture capital funds will reach 12.79 trillion yuan. my country has become the world's second largest venture capital market. The innovation vitality of enterprises is enhanced.