"Realizing new industrialization is a key task in China's pursuit of modernization to build a stronger country and advance national rejuvenation in the new era," stated Chinese President Xi Jinping in a recent speech.
China's vision of new industrialization emerges from both historical and contemporary considerations. Historically, industrial activities have significantly impacted the natural environment, leading to ecological damage and pollutant emissions. The expansion of industrial production has contributed to global environmental challenges such as climate change, a problem for which developed countries bear greater responsibility.
In the current context, China faces challenges including unbalanced regional development and a high dependency on foreign demand for industrial growth. Additionally, a lack of original innovation capacity has hindered progress. The pursuit of new industrialization represents China's exploration of a sustainable and innovative economic development model.
What Defines China's New Industrialization?
New Driving Forces
The digital economy is at the forefront, providing industries with advanced technologies such as sensors, chips, and communication equipment. Rapid developments in software and internet applications are fueling industrial growth. As a foundational interdisciplinary technology, digital innovation empowers numerous industrial sectors, becoming a vital driver for enhancing quality, efficiency, and competitiveness in China's new industrialization efforts.
New Production Factors
Beyond traditional factors like land, natural resources, and labor, modern industrialization emphasizes data, management, technology, and knowledge. These new factors not only alter the input structure but also significantly improve the efficiency of other production elements, boosting productivity and industrial competitiveness.
New Environmental Constraints
Sustainability is a cornerstone of China's new industrialization. Committed to reaching a carbon peak by 2030 and achieving carbon neutrality by 2060, China aims to increase the share of non-fossil energy consumption to over 80 percent by 2060. While driving economic growth, there is a parallel focus on environmental protection. Decarbonization presents both a constraint and an opportunity, guiding industries towards sustainable practices and innovations.
China's new industrialization seeks to balance economic development with environmental stewardship, leveraging technological innovation to address historical challenges and foster a sustainable future.
Reference(s):
cgtn.com
