During a recent inspection tour in northeast China, a region known for its rich agricultural heritage and traditional industries, Chinese President Xi Jinping introduced the concept of \"new quality productive forces\", a vision set to redefine the nation's economic growth trajectory.
On January 31, 2024, Xi emphasized the need for China to accelerate the development of these new productive forces to promote high-quality development across the country.
The influence of new quality productive forces is becoming increasingly evident, from academic discussions to policy-making, corporate strategies to industrial transformations. This advanced type of productive force breaks away from traditional economic growth models, with innovation at its core. Characterized by high technology, efficiency, and quality, it aligns seamlessly with the new development philosophy proposed by Xi.
As an inevitable product of China's evolution in the new era, these productive forces stem from the nation's long-term economic practices and shifts in development paradigms. They present both opportunities and challenges for the country.
Since the implementation of this concept, China has witnessed a surge in scientific and technological innovation, leading to significant achievements in cutting-edge fields such as artificial intelligence, green energy, and quantum communication. The nation's comprehensive implementation of innovation-driven strategies has propelled its journey towards becoming an innovative country.
China's growing scientific and technological strength, combined with its vast market and continually improving industrial system, lays 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. The country accounts for three of the world's five major science and technology clusters and is one of the fastest-growing economies in terms of innovative capabilities over the past decade.
However, China faces challenges in developing these new productive forces. As globalization intensifies, innovation in science and technology has become a focal point of international competition. The global industrial and supply chain landscape is undergoing unprecedented transformation, making it imperative for China to enhance its international competitiveness amid complex global dynamics.
Reference(s):
cgtn.com
