Demystifying New Quality Productive Forces: Avoiding Misperceptions and Seizing Opportunities
Expert Insights from the China Economic Roundtable
In the latest episode of the “China Economic Roundtable,” produced by Xinhua, experts closely involved in policy-making discussed the advancement of a modern industrial system and the acceleration of the development of new quality productive forces.
The guests included:
• Huang Hanquan, head of the Chinese Academy of Macroeconomic Research affiliated with the National Development and Reform Commission
• Liu Dongmei, Party chief of the Chinese Academy of Science and Technology for Development
The Chinese Academy of Macroeconomic Research provides scientific basis and policy recommendations for the formulation and implementation of China’s macroeconomic policies. Meanwhile, the Chinese Academy of Science and Technology for Development, affiliated with the Ministry of Science and Technology, is involved in major policy research and formulation related to national science and technology strategic planning, reforms, and development.
We have compiled some key viewpoints for our readers.
Avoiding Three Misperceptions in Developing New Quality Productive Forces
Developing new quality productive forces is a vital requirement and focal point for promoting high-quality development. Huang Hanquan highlighted three Misperceptions to avoid during the roundtable:
Misperception 1: New Quality Productive Forces Equals Strategic Emerging and Future Industries Only
While these industries are key areas for new quality productive forces, traditional industries are equally crucial. Upgrading traditional industries with new, cutting-edge, and disruptive technologies can also generate new quality productive forces. Neglecting traditional industries could lead to gaps in industrial continuity.
Misperception 2: Only Technologically Innovative Regions Can Develop New Quality Productive Forces
Although regions with concentrated technological innovation have an advantage, less developed areas also hold potential. The central and western regions of China have research foundations, universities, and talent, and can leverage local conditions to develop new quality productive forces tailored to their industrial endowments.
Misperception 3: Sole Reliance on Technological Innovation
While innovation is key, it encompasses both technological and institutional innovations. Without management and institutional innovations, technological breakthroughs are hard to achieve. Therefore, a balanced emphasis on both is essential.
Huang emphasized the need for localized strategies, utilizing unique comparative advantages to develop landmark or specialized industries that can become regionally, nationally, or globally competitive.
The Essence of New Quality Productive Forces as Advanced Productive Forces
Liu Dongmei, Party Chief of the Chinese Academy of Science and Technology for Development, emphasized the transformative potential of the new technological revolution. She underscored that the current wave of technological advancements—such as artificial intelligence, biotechnology, and new energy technologies—is reshaping the “technology-economic track,” presenting significant opportunities for China.
To harness these opportunities, Liu highlighted two primary measures:
1. Enhancing Dominant Technology R&D Capabilities
This includes driving the transformation of scientific research paradigms through AI, building new scientific infrastructure like AI resource and computing platforms, and fostering the integrated development of education, technology, and talent.
2. Boosting Technology Transfer, Transformation, and Diffusion
Strengthening the role of enterprises in technological innovation, guiding long-term social capital investment towards technology innovation, and leveraging China’s market scale and space to drive industrialization through application scenarios, government procurement, and technology standards iterations.
Liu emphasized the need for location-specific strategies, focusing on accumulating or introducing sufficient technological innovation resources and elements.
Zheng Yongnian: New Quality Productive Forces and Chinese Modernization
These insights provide valuable guidance for understanding and advancing the development of new quality productive forces, contributing to high-quality development and industrial modernization.
