In 2024, China witnessed a remarkable shift in its economic landscape as new quality productive forces emerged as a pivotal driver of modernization. These advanced productivity forces transcend traditional growth models and development pathways, heralding a new era of technological innovation and economic vitality.
High-tech industry investment surged by 9.4% year-on-year, signaling robust growth in sectors at the forefront of technological advancement. Industries specializing in humanoid robotics, green energy, and autonomous driving experienced significant developments, positioning China as a global leader in these cutting-edge fields.
The nation’s commitment to innovation extended beyond terrestrial boundaries, with noteworthy breakthroughs in commercial space exploration. These advancements not only open new frontiers for China’s aerospace industry but also stimulate the broader economy through the development of related technologies and services.
Simultaneously, the low-altitude economy—comprising industries focused on unmanned aerial vehicles (UAVs) and related applications—experienced substantial growth. This sector’s expansion underscores China’s strategic focus on integrating advanced technologies into various facets of its economy.
These collective advancements reflect China’s dedication to leveraging cutting-edge technology and implementing forward-looking policies. By reshaping its industrial landscape, China aims to foster sustainable economic growth, enhance global competitiveness, and contribute to the broader development of the global economy.
As new quality productive forces continue to drive transformation, China’s economy is poised for continued innovation and expansion, offering significant opportunities for investors, businesses, and global partners interested in Asia’s dynamic economic environment.
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New quality productive forces driving China's economic transformation
cgtn.com
