BEIJING, Nov. 14, 2024 /PRNewswire/ -- In a new episode of the Keywords to Understand China series, podcast host Jason Smith explains the concept of "new quality productive forces" and its significance in China's shift toward an innovation-driven economy. According to Smith, this shift marks a major transition from China's established role as a manufacturing powerhouse to a model where innovation is the core engine of economic development.
China Matters' Feature: China's Shift to Innovation-Driven Growth
China's commitment to innovation-led development represents a strategic response to global resource constraints and economic challenges. By advancing new quality productive forces, China seeks sustainable growth through green technology and increased resource efficiency, while minimizing environmental impact.
Smith points out that China's emphasis on self-reliance in technology and energy also fosters prosperity domestically and supports international partnerships, including BRICS nations and Belt and Road Initiative (BRI) countries. Through high-quality technology exports, China aims to share these advancements with trading partners, enabling economic resilience across the region. For example, China's role in renewable energy, particularly in solar technology, continues to grow rapidly. In 2024 alone, China has installed substantial solar capacity in areas like Taklimakan Desert, where vast solar farms have transformed non-arable land into productive sites.
China's renewable energy initiatives extend beyond solar to large-scale wind and hydro-power installations, underscoring its commitment to sustainable growth and low-carbon solutions.
In daily life, these technological advancements have practical applications. For instance, Smith notes that he frequently uses a portable 5G hot-spot, a technology that offers connectivity even in remote regions like the Himalayas. In contrast, many cities in developed countries still face limitations with 4G connectivity, showcasing China's technological reach even in challenging environments.
Focusing on innovation, sustainability, and self-reliance, China's pursuit of new quality productive forces reflects a broader commitment to future growth and international cooperation, setting a valuable example in green technology and economic adaptability for both domestic and global communities.
View the video @ YouTube: https://www.youtube.com/watch?v=s1qt60duZ44