(ECNS) -- China News Service (CNS) co-hosted a high-level seminar from June 17-27 in Beijing where high-ranking Chinese official explains top Chinese buzzword New Quality Productive Forces.
Li Yuju, deputy director of the Research Center of Xi Jinping’s Economic Thought, told CNS that China will continue to organize and implement future industry incubation and acceleration plans in cutting-edge technological and industrial transformation fields with an aim to establish a number of future industries.
“Future industries are crucial forces for reconstructing the global innovation landscape, reorganizing global resources, reshaping the global economic structure, and altering global competitive dynamics,” Li said.
The expert pointed out that future industries are the new areas of competition among major powers, predominantly concentrated in areas such as artificial intelligence (AI), hydrogen energy storage, new materials, new energy, and life sciences, which necessitate long-term planning, proactive strategies, and extraordinary measures to secure a competitive edge.
He called on fully exerting government and market roles, and continuous focus on integrating innovation chains, industrial chains, capital chains, and talent chains to create an innovation ecosystem and develop future industry clusters.
National laboratories, high-level research universities, national research institutions, and leading technology enterprises are crucial components of collaborative efforts, Li added.
"New quality productive forces" is a major concept put forward by Chinese President Xi Jinping. Marked by innovation, new quality productive forces are advanced productivity in essence, with high quality as the key and substantial increase in total factor productivity as its core hallmark.
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