In 2024, China has made significant strides towards becoming an innovative nation, with double-digit growth in the production of new energy vehicles, integrated circuits, and service robots. This surge underscores the momentum behind China’s innovation-driven economy. During a visit to Hefei City in Anhui Province in October, Chinese President Xi Jinping emphasized that “science and technology should be at the forefront in advancing Chinese modernization.”
Several major technological breakthroughs have marked this year, including the unveiling of the Yongzhou tunnel boring machine, the connection of the world’s first offshore wind farm with ultra-large, single-unit capacity to the grid, and the delivery of the fifth-generation large liquefied natural gas carrier, Lv Neng Ying.
Major Strides in Technological Innovation
China’s global innovation ranking rose to 11th place in the World Intellectual Property Organization’s 2024 index, climbing one spot compared to last year. This achievement cements China’s status as one of the fastest-growing economies in terms of innovation over the past decade. The country now boasts 26 of the world’s top 100 science and technology innovation clusters, surpassing last year’s 24, and ranks first globally for the second consecutive year.
New Quality Productive Forces
Regions across the country are actively driving the development of new quality productive forces. For instance, Beijing is building an international science and technology innovation center, advancing in emerging fields such as 6G and quantum technologies. Meanwhile, Liaoning Province is strengthening 12 key industrial clusters, focusing on aerospace equipment manufacturing.
In the first half of 2024, investment in high-tech industries increased by 10.6 percent year on year, outpacing total investment growth by 6.7 percentage points. Emerging sectors like next-generation information technology, artificial intelligence, new energy, new materials, and high-end equipment are becoming new growth drivers for the Chinese economy.
As China continues to prioritize scientific and technological innovation, the nation is poised to solidify its position as a global leader in high-tech industries. The emphasis on developing new quality productive forces and fostering emerging sectors signals a transformative phase in China’s economic landscape, promising sustained growth and modernization in the years ahead.
Reference(s):
cgtn.com
