China is poised to ignite new growth momentum by embracing \"new quality productive forces,\" a concept first introduced by President Xi Jinping during his 2023 inspection tour in northeast China, a key agricultural and industrial region. This innovative approach marks a departure from traditional economic growth models, emphasizing high-tech, high-efficiency, and high-quality development driven by innovation.
On January 31, 2024, President Xi underscored the urgency of accelerating the development of new quality productive forces to promote high-quality development across the nation. This directive has since permeated academic circles, policy-making arenas, corporate strategies, and industrial transformation practices, reshaping China's socioeconomic landscape.
New quality productive forces represent an advanced type of productive force, rooted in China's long-term economic practices and its evolving development paradigm. By prioritizing scientific and technological innovation, China aims to break free from traditional constraints and stimulate fresh momentum for sustainable growth.
The country has witnessed significant achievements in cutting-edge technologies such as artificial intelligence, green energy, and quantum communication. China's comprehensive implementation of an innovation-driven strategy has yielded remarkable progress in its journey to become an innovative nation.
According to the Global Innovation Index 2024 released by the World Intellectual Property Organization, China ranks 11th globally and is the only middle-income economy among the top 30. The nation hosts three of the world's five major science and technology clusters and has demonstrated one of the fastest-growing innovative capabilities over the past decade.
However, challenges persist. As globalization intensifies, technological innovation has become the focal point of international competition. The global industrial and supply chain landscape is undergoing unprecedented transformation, posing complex challenges for China in enhancing its international competitiveness.
In response, China is committed to fostering an environment that nurtures new quality productive forces. By leveraging its growing scientific and technological strength, vast market, and comprehensive industrial system, the nation is well-positioned to overcome obstacles and continue its trajectory toward high-quality development.
Reference(s):
cgtn.com
