Hashtag
Men's Weekly

China's New Quality Productive Forces to drive innovation and global economic growth

BEIJING, CHINA - Media OutReach Newswire - 22 June 2024 - China is talking about New Quality Productive Forces, as it embarks on a transformative journey, the world is watching closely.



Bionic humanoid robot provides consultation services for the guests, Beijing
Bionic humanoid robot provides consultation services for the guests, Beijing

New Quality Productive Forces encompasses emerging industries, including new materials, green industry, and high-end equipment. It also covers future-oriented industries such as the meta-verse, brain-computer interfaces, and humanoid robots.

With innovation playing the leading role, New Quality Productive Forces represent advanced productivity freed from traditional economic growth models, characterized by high-tech application, high efficiency, and high quality.

The world’s first driverless Cloud Bus officially opened in Bishan, Chongqing
The world’s first driverless Cloud Bus officially opened in Bishan, Chongqing

China is shifting from a traditional labor-intensive to an innovation-driven economy, and New Quality Productive Forces are on the rise. To leverage the momentum of innovation, both traditional and high-tech industries will make strides. We will take solid steps to boost industrial innovation through technologies, speed up the upgrading of traditional industries, and foster emerging industries.

China's spending on R&D reached 3.3 trillion yuan (454.8 billion dollars) in 2023, an 8.1 percent increase, accounting for 2.64 percent of its GDP. Efforts are being made to focus on indigenous innovation to achieve breakthroughs in core and key technologies. Funding for basic research was continuously strengthened, accounting for 6.65 percent of all R&D expenditures.

According to the World Intellectual Property Organization, China is a global innovation leader, ranking 12th in the Global Innovation Index 2023. By the end of 2023, it had 24 of the top 100 science and technology clusters globally, ranking first in the world for the first time.

In recent months, China has introduced policies to attract foreign investment and is committed to promoting high-quality development driven by New Quality Productive Forces. This will facilitate the transition of the country from "Made in China" to "Created by China."

Next, investors are always looking for markets at the forefront of innovation and rapid progress. China is one such market. As it continues to lift market access restrictions in the manufacturing sector, it will create more trade and investment opportunities for foreign investors. Businesses in China are rapidly adopting new technologies to maintain their competitive edge in various markets, often surpassing the pace of their counterparts elsewhere. This makes China a highly dynamic market.

Nurturing New Quality Productive Forces is set to inject fresh impetus into not only China's high-quality development but also global economic recovery. It will create immense market demand for new technologies, products, and services, offering enormous business opportunities for investors both at home and abroad.

The world needs to cooperate with China, and China also needs to embrace the world. Foreign companies can play a significant role in supporting China's transformation in areas such as decarbonization, automation, and the digitalization of industrial and supply chains. New Quality Productive Forces will generate fresh growth points for multinational corporations, making the global economy and supply chains even greener and more diversified.

The author, Bao Shujun, is the Researcher at International Cooperation Center of National Development and Reform Commission




Hashtag: #NewQualityProductiveForces

The issuer is solely responsible for the content of this announcement.

Business News

Prudential and Prudence Foundation Provide Free Mental Health Support to Vulnerable Communities

In partnership with Intellect, the programme will be launched in Malaysia and Vietnam to make mental healthcare more accessible for vulnerable or at-risk groups HONG KONG SAR - Media OutReach Newswir...

Hashtag.net.au - avatar Hashtag.net.au

Trend Micro Named a Leader in IDC MarketScape for CNAPP

HONG KONG SAR - Media OutReach Newswire - 2 July 2025 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced it has been named as a Leader in the IDC Marke...

Hashtag.net.au - avatar Hashtag.net.au

Drug & Medical Device & Aesthetics, 肌顏態 was displayed at the CSD2025, The GeneQueens and 金因敷 launch was grandly held in Changsha

HONG KONG SAR - EQS Newswire - 2 July 2025 - On June 27, 2025, Uni-Bio Science Group Limited (the "Group")grandly held a new medical aesthetics product launch event in Changsha, releasing the high-end...

Hashtag.net.au - avatar Hashtag.net.au

Amazon Singapore Unveils a Week of Prime Day Deals and a Special Public Maze Event for Prime Day 2025

Prime members can access exclusive deals from brands such as Neutrogena, FOREO, Resto, Cricut, Pigeon, PicassoTiles and Coca-Cola from 8 – 14 July. Free Public event: Amazon Prime Day Maze at Suntec...

Hashtag.net.au - avatar Hashtag.net.au

Themed Forum of "Mountain Biodiversity and Our Life" to Kick off "Guizhou Example" Empowering Global Mountain Eco-treatment

GUIYANG, CHINA - Media OutReach Newswire - 2 July 2025 - Recently, Eco Forum Global Guyang 2025 announced at a press briefing that the themed forum "Mountain Biodiversity and Our Life" will be held i...

Hashtag.net.au - avatar Hashtag.net.au

Asia's First Porsche Design Tower Offers Revolutionary Luxury Living Experience to Bangkok's Vibrant Japanese Community

STUTTGART, GERMANY / TOKYO, JAPAN - Media OutReach Newswire - 24 June 2025 - Porsche Design Tower Bangkok emerges as a defining statement of excellence in luxury automotive-inspired living. As Asia's...

Hashtag.net.au - avatar Hashtag.net.au

Health & Wellness

Telehealth Could be the Catalyst for Better Heart Health in Australia

Hashtag.net.au - avatar Hashtag.net.au

Image by stockking on Freepik Heart disease is one of the leading causes of death in Australia despite decades of advancements in medicine and health education campaigns. More than 400 Australians ...

Disability Care in Melbourne: What Families Need to Know in 2025

Hashtag.net.au - avatar Hashtag.net.au

If you’re supporting a loved one with a disability in Melbourne, you’ll know how important it is to find the right care—and how overwhelming it can be to navigate the system. With the National Disab...

Online Medical Certificate Services: Essential Features to Look Out For

Hashtag.net.au - avatar Hashtag.net.au

"Discover top online medical certificate services! Essential features to look for to get trusted and efficient results." Choosing high-quality services is essential for ensuring reliable, efficient, ...