BEIJING, July 28 (Xinhua) — The Chinese leadership has once again demonstrated its determination to develop economic driving forces via sci-tech innovations, according to a resolution on further deepening reform comprehensively to advance Chinese modernization.
The resolution, recently adopted at the third plenary session of the 20th Central Committee of the Communist Party of China, states that high-quality development is the primary task in building China into a modern socialist country in all respects.
It calls for improving the institutions and mechanisms for fostering new quality productive forces in line with local conditions and pledges to improve policies and governance for strategic industries such as next-generation IT, AI, aviation and aerospace, new energy and new materials.
Some Western media questioned that the key policy session did not introduce strong economic stimulus measures or offer immediate solutions for the decelerating real estate sector, so it cannot bring much hope for an economic upswing.
But remaining committed to the pursuit of high-quality development driven by innovative emerging and future industries actually reflects a responsible, deliberate, and scientific vision for the country’s modernization drive.
The high-quality development strategy has already achieved great results. From 2013 to 2023, the added value of the large-scale, high-tech manufacturing industry experienced a robust annual growth rate of 10.3 percent. There was an evident surge in the production of innovative products in 2023, with the output of service robots, solar cells and high-speed trains up 23.3 percent, 54 percent and 63.2 percent respectively compared to the previous year.
Those who doubt China’s economic future should come and see what is happening here. Take a tour around, let’s say, north China’s Shanxi Province, for example, and you may understand why Chinese leaders have made such choices.
Once a typical example of extensive development, Shanxi, known for its rich energy and raw material resources, has long been plagued by resource wastage and environmental degradation. For years, its landscape was exploited and destroyed by coal mines, steel mills, and quarries, with the air quality so poor that coal dust and slag permeated its atmosphere.
In recent years, propelled by technological innovations, Shanxi has embraced the new path of high-quality development. The proportion of its smart coal mining capacity has soared to 54 percent, its installation of wind and solar energy facilities has multiplied, and its new energy vehicle and hydrogen energy industrial chains have improved. The low-carbon transformation has restored blue skies and clean waters and generated a wealth of new development opportunities.
“Stone Age,” a local stone processing firm, once encountered a reduced demand for stone materials amid the slowdown in the real estate industry. In response, it chose to cooperate with scientific researchers and turned limestone into a new promising and lucrative nanomaterial that can be widely applied in industries like rubber production and paper-making.
Pulling through the early challenges of transformation under the support of local incentive policies, many traditional enterprises like “Stone Age” in China have successfully upgraded their technologies and products, gaining new competitive edges. Meanwhile, a wave of tech unicorns has emerged, leading the way in new industries and business models.
High-quality development not only is key to China’s modernization but also presents abundant opportunities for foreign businesses, fueling global economic recovery.
More foreign firms are setting up R&D and innovation centers in China, boosting foreign investment in high-tech manufacturing. Notable examples include Tesla’s energy storage mega factory in Shanghai, Volkswagen’s intelligent vehicle R&D center in Hefei, Anhui Province, and AstraZeneca’s planned new small molecule factory in Wuxi, Jiangsu Province. Experts believe it reflects their strategic shift from “Made in China” to “Created in China.”
While China keeps its doors open for cooperation to create a win-win situation, the United States, however, persistently attempts to disrupt high-tech collaboration between China and the rest of the world, aiming to hinder China’s progress and secure its dominance in science and technology.
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