China’s high-quality development is creating significant opportunities for businesses worldwide, according to Zheng Shanjie, head of the National Development and Reform Commission. Speaking at the China Development Forum 2024 in Beijing on Sunday, Zheng highlighted China’s commitment to accelerating the development of new quality productive forces and promoting industrial innovation through technological advancements.
“We will take solid steps to boost industrial innovation, upgrade traditional industries, and foster emerging sectors,” Zheng said. He emphasized the integration of digital technologies into the real economy and the merging of advanced manufacturing with modern service industries. “By fostering new growth engines in fields such as biomanufacturing, commercial spaceflight, new materials, and low-altitude economy, we aim to inject strong impetus into global economic recovery and growth,” he added.
Zheng outlined plans to focus on future-oriented industries, opening up new fields like quantum technology and life sciences, and launching the “artificial intelligence (AI) plus” initiative. He also stressed China’s dedication to optimizing its business environment, pursuing higher-standard opening up, strengthening international scientific and technological cooperation, and accelerating the formulation of the 2024 negative list for foreign investment.
As China’s macroeconomic policies continue to take effect, the economy has started the year robustly, with improved industrial production and increased domestic demand. “We have the confidence, capabilities, and conditions to meet the 2024 development goals,” Zheng affirmed.
