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Industry insiders see opportunities in China's pursuit of new quality productive forces

Xinhua | Updated: 2024-06-24 15:03
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Visitors watch the electric vertical take-off and landing vehicle M1 independently developed by startup company Vertaxi at the 2024 China Brand Day events in Shanghai, on May 12, 2024. [Photo/VCG]

BEIJING -- At the sixth episode of the China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency, industry insiders offered valuable insights into China's pursuit of new quality productive forces, and discussed opportunities behind it.

No country has put forward this theory of new quality productive forces in such a clear, scientific way as China is now doing, said Keith Bennett, London-based long-time China specialist.

Ahmed Al-Husseini, researcher from Cairo University and an expert on Chinese affairs, said the concept of new quality productive forces revolves around moving from the mass production and "Made in China" concepts to "Innovated in China."

China's deployment of new quality productive forces reflects its commitment to fostering innovation-driven development and upgrading its industrial structure, said Benjamin Mgana, chief editor of foreign news of The Guardian, Tanzania.

Wang Zi, assistant general manager of Xi'an Micromach Technology Co Ltd, said new quality productive forces feature high technology and innovation, which can improve production quality and efficiency, as well as introduce new technologies to address major challenges in industry development.

"I am very optimistic that this new, high quality, high-tech, productive forces would be a huge step forward for humans, can make much better and lower-cost products. And we can do it in a much more environment-friendly way," said Erik Solheim, co-chair of the Europe-Asia Center and former under-secretary-general of the United Nations.

The development of China's new quality productive forces may have significant impacts on the global economy, influencing innovation and competitiveness across various sectors and industries, said Ronnie Lins, director of the China-Brazil Center for Research and Business.

First introduced in 2023, new quality productive forces refer to advanced productivity freed from the traditional economic growth mode and productivity development paths. It features high-tech, high efficiency and high quality.

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