China's Vice Premier He Lifeng emphasizes government-market coordination to develop "new productive forces" through scientific research and tech advancements in the industrial sector.
China's Vice Premier He Lifeng stresses the need for a coordinated government and efficient market to develop "new productive forces," focusing on scientific research and tech advancements within the industrial sector. Introduced by President Xi Jinping, this concept aims to address global competition and maintain China's development momentum. He highlights the government's role in creating layouts, fiscal support, and preventing overcapacity, while emphasizing the market's role in fostering innovation.
July 30, 2024
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