China is embarking on a transformative journey to boost its economy through the development of new quality productive forces. Introduced by President Xi Jinping during his 2023 inspection tour in northeast China, this concept aims to break free from traditional growth models and foster a high-tech, efficient, and innovative economic landscape.
Amid global economic shifts and domestic industrial upgrades, China is prioritizing scientific and technological innovation to drive industrial transformation. This strategy aligns with Xi Jinping's vision for high-quality development, emphasizing sustainability and modernity.
The impact of new quality productive forces is evident across various sectors, from academic discussions to corporate strategies. These advanced productive forces are characterized by their focus on cutting-edge technologies, including artificial intelligence, green energy, and quantum communication, positioning China as a leader in the global innovation race.
According to the Global Innovation Index 2024, China ranks 11th among the top 30 economies, highlighting its rapid growth in innovative capabilities. As the only middle-income economy in the top tier, China boasts three of the world's five major science and technology clusters, underscoring its commitment to becoming an innovative powerhouse.
However, the path is not without challenges. Intensifying global competition in science and technology, coupled with a rapidly evolving industrial and supply chain landscape, presents complex obstacles for enhancing international competitiveness. Nevertheless, China's robust industrial system and vast market continue to provide a strong foundation for overcoming these hurdles.
As China advances its innovation-driven strategy, the development of new quality productive forces remains a cornerstone for sustainable economic growth and global leadership in technology and industry.
Reference(s):
cgtn.com
