New Opportunities for the World: High-quality Development with New Quality Productive Forces

LUO Weidong, Consul General of the People’s Republic of China in Toronto

A few days ago, the annual meetings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference(CPPCC), know as China’s Two Sessions were successfully held in Beijing. China’s two sessions are once again attracting global attention, with new quality productive forces becoming a hot-trending topic. I would like to share my understanding of new quality productive forces.

With innovation playing the leading role, new quality productive forces mean advanced productivity that is freed from traditional economic growth mode and productivity development paths, features high-tech, high efficiency and high quality and comes in line with the new development philosophy. It is an intrinsic requirement and an important focus of promoting high-quality development. It is also the productivity that is more integrated and embodies new connotations in the digital era.

New quality productive forces can be seen everywhere in China today and have become a major growth engine for high-quality development.

With the wide-use of modern information, artificial intelligence and big data, China has witnessed a stream of innovations, with new industries and products gaining good growth momentum, such as new energy vehicles, new materials industry, home-developed C919 large passenger jet and homegrown large cruise ship, facial-recognition payment, food delivery robots, self-driving car and smart medical care.

According to the 2023 edition of the WIPO’s Global Innovation Index, China hosts most science and technology clusters globally and ranks first in six specific indicators. China has made steady progress towards building an innovative economy.

China’s development of new quality productive forces also serves the interests of the world. The new Chinese economy brings new opportunities for global development.

In 2023, there was a 30-percent increase in exports of the “new trio”, namely, electric vehicles, lithium-ion batteries, and photovoltaic products, which totally exceeded one trillion yuan. In the future, China will continue to work to upgrade industrial and supply chains, and actively foster emerging industries and future-oriented industries, as well as promoting innovative development of the digital economy.

It is now widely recognized in the international community that China’s high-tech, high-value-added products that lead the green transition are becoming new export growth points, which have powered the global growth and helped global green development.

At present, the world is undergoing profound changes unseen in a century, and mankind is facing more and more global challenges like energy crisis, climate change and health care risk. More than ever, human society needs international cooperation, openness and sharing. As stated in this year’s report on the work of the government, China will pursue higher-standard opening up and promote mutual benefits.

China would like to share its distinct strengths with the world, such as a super-size market in terms of demand, a full-fledged industrial system in terms of supply, and abundant, high-caliber labor forces and entrepreneurs in terms of human resources. We strive for a universally beneficial and inclusive economic globalization to benefit all countries with more fruits of innovation. It is time that we join hands in tackling challenges of the times and making new contributions to peace and development of the world.

Sci-tech exchanges and cooperation between China and Canada are two-way and mutually beneficial. More and more people of insight in Ontario and Manitoba have come to realize that any way of engaging in a zero-sum game, practicing decoupling and severing industrial and supply chains, and creating bloc confrontation, is short-sighted and hurts others as well as themselves.

Lose-lose is not a rational choice, and win-win is the future of mankind. We are ready to work with people from all walks of life in our consular district to promote bilateral exchanges and cooperation in various fields.

Image credit, Charlotte