BEIJING: President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, stressed the concept again on Tuesday when he participated in a deliberation with fellow lawmakers from east China’s Jiangsu Province during the second session of the 14th NPC.
First put forward by Xi in his inspection tour of northeast China’s Heilongjiang Province in September 2023, the term was highlighted again at the Central Economic Work Conference in December, and became the subject of the first group study session held by the Political Bureau of the Communist Party of China (CPC) Central Committee this year.
With innovation playing the leading role, new quality productive forces mean advanced productivity that is freed from traditional economic growth mode and productivity development paths, features high-tech, high efficiency and high quality, and comes in line with the new development philosophy, Xi, also general secretary of the CPC Central Committee, said at the study session.
New quality productive forces are driven by revolutionary technological breakthroughs, innovative allocation of production factors, and deep industrial transformation and upgrading, he noted.
Xi highlighted the concept again Tuesday when participating in a deliberation at the ongoing annual national legislative session, stressing developing new quality productive forces based on local conditions.
He called for efforts to step up innovation, foster emerging industries, adopt forward-thinking plans for developing future-oriented industries and improve the modern industrial system.
Developing new quality productive forces does not mean neglecting or abandoning traditional industries, Xi said, noting that it is necessary to prevent a headlong rush into projects and the formation of industry bubbles, and avoid adopting just a single model of development.
China has made strides in boosting sci-tech innovation and industrial upgrading. Its global ranking in innovation has increased markedly over the past decade, while strategic emerging industries, such as new energy, high-end equipment and biotechnology, have taken a larger share in the national economic output.
“Developing new quality productive forces is an intrinsic requirement and an important focus of promoting high-quality development,” Xi once said.
He called on the province to develop new quality productive forces tailored to local conditions, saying Jiangsu has good conditions and strong capability to develop them and urging the province to develop advanced manufacturing and forge clusters of strategic emerging industries with international competitiveness.
“Localities should take into account their own resource endowment, industrial foundation and scientific research conditions in promoting the development of new industries, models and growth drivers in a selective manner,” Xi said.
As one of the engines driving China’s economic growth, Jiangsu’s GDP reached 12.82 trillion yuan ($1.78 trillion) last year, ranking second in China. The advanced manufacturing industry has become the strongest source of the province’s GDP growth in recent years, according to Li Hui, an associate researcher at the Institute of Economics of Jiangsu Academy of Social Sciences.
Once an outsider, China’s photovoltaic (PV) industry is now the world’s frontrunner. Data for 2023 from the National Energy Administration show that China’s PV power generation capacity has ranked first in the world for eight consecutive years.
Statistics show that the output value of Jiangsu’s strategic emerging industries and high-tech industries accounted for 41.3 percent and 49.9 percent of the province’s industries, respectively.
Last year, the province also revealed its plan to further promote high-end industries, targeting the creation of five strategic emerging industrial clusters with international competitiveness, namely biomedicine, intelligent manufacturing equipment, integrated circuits, smart grids, and new energy.
