During his 2023 inspection tour in northeast China, an important agricultural and traditional industrial base, Chinese President Xi Jinping introduced the concept of new quality productive forces, signaling a significant shift in the nation's economic development strategy.
Amid global economic adjustments and domestic industrial upgrading, the need to break free from traditional productive forces has become pressing. By harnessing innovation in science and technology, China aims to drive industrial transformation and reshape its development model, stimulating new momentum for further growth.
On January 31, 2024, Xi emphasized the acceleration of developing new quality productive forces to promote high-quality development.
Today, from academic discussions to policy-making, corporate strategic planning to industrial transformation practices, the influence of new quality productive forces is evident across China, reshaping socioeconomic development.
As an advanced type of productive force, these new quality productive forces depart from traditional economic growth models, with innovation at their core. Characterized by high technology, high efficiency, and high quality, they align with the new development philosophy proposed by Xi.
While an inevitable product of China's development in the new era, new quality productive forces have roots in long-term economic practices and shifts in development paradigms, presenting both opportunities and challenges.
The current wave of scientific and technological revolution and industrial transformation has led to significant achievements in cutting-edge fields such as artificial intelligence, green energy, and quantum communication.
China's comprehensive implementation of an innovation-driven strategy has yielded remarkable progress toward becoming an innovative nation. Growing scientific and technological strength, combined with a vast market and continuously improving industrial system, lays a solid foundation for developing new quality productive forces.
According to the Global Innovation Index 2024 released by the World Intellectual Property Organization, China is the only middle-income economy among the top 30, ranking 11th. It accounts for three of the world's five major science and technology clusters and is among the fastest-growing economies in terms of innovative capabilities over the past decade.
Despite these advancements, China faces challenges in developing new quality 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 the improvement of international competitiveness a complex issue for China.
Reference(s):
cgtn.com
