China is embarking on a transformative journey with the introduction of 'Developing new productive forces' as a key focus in its policy-making. This initiative prioritizes the rapid growth of strategic emerging industries and future sectors such as new energy and quantum technology.
Experts highlight that this shift is leading to a noticeable change in China's economic landscape. Professor Carl Fey from the BI Norwegian Business School emphasizes the significance of these emerging industries in driving sustainable growth. Wang Yaojing, an assistant professor in Economics at Peking University, discusses the potential of these new sectors to complement rather than replace traditional industries.
He Weiwen from the Center for China and Globalization adds that the innovation spurred by these new productive forces is expected to reshape China's economic structure, fostering long-term development and resilience. As China continues to invest in these cutting-edge technologies, the global community watches closely to understand the implications for international markets and economic trends.
Reference(s):
cgtn.com
