Guangdong flourishes on high-tech road to growth(2)

Significant milestone

Since its initial introduction during a tour by President Xi to Heilongjiang province last year, the concept of new quality productive forces has gained momentum in Guangdong.

On Jan 31, Xi delivered a speech on the essence and significance of new quality productive forces while chairing the 11th group study session of the Political Bureau of the Communist Party of China Central Committee. In his speech, Xi emphasized the crucial role of these forces in achieving high-quality development and outlined clear requirements for their development.

"The speech marked a significant milestone in the theoretical and practical understanding of new quality productive forces," said Ding Minglei, an analyst at the Chinese Academy of Science and Technology for Development in Beijing, adding that to grab the momentum, a new task for government officials, decision-makers and scholars, is to deepen understanding of new quality productive forces from a theoretical standpoint.

In fact, throughout the history of the People's Republic of China, promoting the development of productive forces has been a fundamental goal.

Mao Zedong emphasized the liberation of productive forces, while Deng Xiaoping stressed the importance of developing them during the socialist stage. Under Xi's leadership, China entered a new era in 2012, focusing on high-quality development. This has led to significant improvements in the country's productive forces, setting the stage for the emergence of new quality productive forces.

"In summary, new quality productive forces represent a new type of advanced productivity that is compatible with the new development philosophy. Granting a leading role to innovation, they mark a break with traditional economic growth models and development pathways for productive forces and feature a high level of technology, efficiency, and quality," Xi said in his explanation of new quality productive forces.

According to Ding, to understand new quality productive forces and their role in high-quality development, one should first have a clear understanding that challenges remain in China's development, including reliance on foreign technologies, insufficient industrial strength, and pressure to transition to green production methods.

"To overcome these challenges, China must foster new industries, models, and growth drivers while ensuring control over key technologies, and that all demands a profound comprehension of the dynamics of new quality productive forces and their contribution to the pursuit of high-quality development," Ding added.

Xi said new quality productive forces represent advanced productivity driven by innovation, which means they break away from traditional economic models and emphasize technology, efficiency, and quality. Because these forces are born from revolutionary technological breakthroughs, innovative resource allocation, and industrial transformation, they prioritize total factor productivity and innovation, ultimately leading to qualitative and innovation-driven growth.