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China to modernize industrial system, develop new quality productive forces


 , Updated 22:11, 05-Mar-2024

China will strive to modernize the industrial system and develop new quality productive forces at a faster pace, according to a government work report submitted Tuesday to the national legislature for deliberation.

In order to develop these new quality productive forces, the government work report lists a series of tasks. 

It calls for improving and upgrading industrial and supply chains and keeping the industrial economy running smoothly. The country will promote the high-end, intelligent, and green transformation of traditional industries, accelerate the development of production-oriented service industries, and create more Chinese brands with global influence.

The report also stresses the cultivation of emerging industries and future-oriented industries. It will consolidate and enhance its leading position in areas such as intelligent connected new-energy vehicles, accelerate the development of industries such as hydrogen power, new materials, and innovative drugs, and actively create new growth engines such as biomanufacturing, commercial spaceflight, and low-altitude economy. It will also formulate future industrial development plans, support quantum technology and life sciences, and create a number of future industry pilot segments.

Moreover, innovative development of the digital economy will be promoted, with an AI Plus initiative to be launched. The country will realize digital transformation of the manufacturing industry, accelerate the large-scale application of the industrial internet, promote the digitalization of the service industry, and build smart cities and digital villages.

(Cover image via CFP)

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