Shaping New Growth Drivers and Strengths

High-quality development is the primary task in building a modern socialist country. It is therefore imperative to create efficient links between reform and development to shape new growth drivers and strengths.

The Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization (hereinafter “the Resolution”) was adopted at the third plenary session of the 20th CPC Central Committee.

In line with the commitment to steering reform using the new development philosophy, the Resolution states that the incentive and constraint mechanisms for promoting high-quality development will be improved. Notably, it also creatively proposes to improve the institutional mechanisms for developing new quality productive forces in line with local conditions.

These moves will open the way for new growth drivers and strengths that will provide fresh impetus for high-quality development.

Efforts to develop new quality productive forces in line with local conditions must be focused on high technology, high performance, and high quality.

On the one hand, we need to channel energy into developing the "new" by accelerating the formation of relations of production that are more compatible with new quality productive forces through reform, establishing mechanisms for ensuring funding increases for industries of the future, and guiding the healthy and orderly development of emerging industries.

On the other hand, we also need to transform the "old" by improving the institutional mechanisms for the optimization and upgrading of traditional industries.

We will improve the systems and mechanisms for developing a modern industry. We will move faster to establish institutions and mechanisms for promoting the development of the digital economy, refine policies for developing digital industry and transforming traditional industries with digital technologies, and promote the integrated development of producer services. We will improve the mechanisms for accelerating the diversified development of consumer services and reform the integrated transportation system.

The green transformation of our growth model will be accelerated. We will improve the mechanisms for green development, issuing action plans for energy conservation and carbon reduction in key industries and improving incentive mechanisms for eco-friendly consumer spending. We will deliver steady progress in trials for carbon peaking, move faster to plan and develop a new type of energy system, and establish a carbon emissions statistics and accounting system.

All this will see us actively and prudently progressing toward our goals for peak carbon emissions and carbon neutrality.

Editor: Zhang Xian