It is precisely this kind of conversation that is of importance .这是强调句,强调主语this kind of conversation .
of importance =important
“(be)of+抽象名词可用其同根形容词 valuable、useful、helpful、different、important 等替换,:The dictionary is of help to us.=The dictionary is helpful to us.
when引导的是时间状语从句.主句是 when we are seeking to develop our reading .
to meet the new demands 是当目的状语
being place upon us 是现在分词的被动式当the new demands 的定语.
by studying at a higher level.当方式状语