During a recent inspection tour in northeast China, a significant agricultural and industrial hub, Chinese President Xi Jinping introduced the concept of \"new quality productive forces,\" aiming to drive the nation's high-quality development. This initiative emerges at a critical time when global economic adjustments and domestic industrial transformations necessitate a break from traditional growth models.
Recently, President Xi emphasized the urgency of accelerating the development of these new productive forces to stimulate China's further growth. From academic debates to policy formulations, and from corporate strategies to industrial practices, the influence of new quality productive forces is permeating all levels of China's socioeconomic landscape.
Characterized by high technology, efficiency, and quality, these productive forces represent a shift away from traditional economic models, with innovation at their core. They align with President Xi's new development philosophy, focusing on sustainable and innovation-driven growth.
China's commitment to this path is evident in its comprehensive implementation of innovation-driven strategies. The nation has made significant strides in cutting-edge fields such as artificial intelligence, green energy, and quantum communication. These advancements, coupled with China's vast market and robust industrial system, lay a solid foundation for the development of new quality productive forces.
According to the Global Innovation Index 2024 released by the World Intellectual Property Organization, China ranks 11th and is the only middle-income economy among the top 30. It accounts for three of the world's five major science and technology clusters and has shown one of the fastest-growing innovative capabilities over the past decade.
However, challenges remain. As globalization intensifies, technological innovation has become a focal point of international competition. The global industrial and supply chain landscape is undergoing unprecedented changes, and enhancing international competitiveness poses complex issues for China.
The development of new quality productive forces presents both opportunities and challenges. As China navigates this new era, fostering innovation and overcoming obstacles will be crucial in reshaping its economic model and sustaining growth.
Reference(s):
cgtn.com
