According to Xi, growth depends on new productive forces

In order to achieve a high degree of sci-tech self-reliance, President Xi Jinping has emphasized the critical role that new productive forces play in supporting China’s high-quality development. He has stated that the country must increase scientific and technological innovation. Leading a group study session of the Political Bureau of the CPC Central Committee, the Party’s core leadership, on Wednesday, Xi, who is also the general secretary of the Communist Party of China Central Committee, discussed the theory of new productive forces. He Lifeng and Zhang Guoqing, the vice premiers, as well as Ma Xingrui and Yuan Jiajun, the Party secretary of the Chongqing municipality and the Xinjiang Uygur autonomous region, all made contributions to the study session.


Xi emphasized the need of never forgetting that the cornerstone of the new era is high-quality development. The development of a modern economic system, the advancement of high-level scientific self-reliance, the formation of a new development pattern, and the coordination of the deepening of reforms and high-level opening-up are just a few of the strategic tasks he called for efforts to ensure their sound implementation. He emphasized that new theories of productivity must direct the country’s high-quality development since new productive forces have already emerged and are a key driver and pillar of high-quality growth.


According to Xi, innovation is the primary driver of the new productive forces, which are distinguished by high levels of efficiency, quality, and technology. He continued, “A major increase in productivity is the hallmark of new productive forces, spawned by revolutionary technological breakthroughs, the creative allocation of factors of production, and the transformation and upgrading of industries.” Xi first brought up the phrase “new productive forces” in September while visiting Heilongjiang province for fact-finding. The annual Central Economic Work Conference, which sets the tone for the industry, in December underscored the importance of combining sci-tech innovation with industrial innovation to drive new industries, models, and economic momentum. This involves leveraging disruptive and cutting-edge technology.

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