Chinese President Xi Jinping calls for local governments to develop "new productive forces", focusing on innovation and upgrading traditional industries.
Chinese President Xi Jinping calls for local governments to develop "new productive forces" according to local conditions, focusing on innovation and avoiding a "headlong rush" into projects that might create industry bubbles. He emphasizes the importance of not ignoring traditional industries but rather using new technologies to upgrade and transform these sectors and promote high-end, intelligent, and green industries. Xi first introduced the concept of "new productive forces" during an inspection tour in September, including everything from tourism to China's new three growth drivers of electric vehicles, batteries, and renewable energy.
March 05, 2024
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