CCTV News (Xinwen Lianbo): General Secretary Xi Jinping emphasized that developing new quality productive forces is an intrinsic requirement and an important focus for promoting high-quality development. The Third Plenary Session of the 20th CPC Central Committee proposed that the systems and mechanisms for developing new quality productive forces in light of local conditions should be improved. At present, China is promoting development through reform, developing new quality productive forces in light of local conditions, and accelerating the cultivation of new drivers and new advantages. The Chinese economy is forging ahead on the path of high-quality development.

This year, the Chinese economy has made progress while maintaining stability, and new quality productive forces have grown vigorously. In the first half of the year, the value added of high-tech manufacturing above designated size increased by 8.7% year on year, 2.7 percentage points higher than that of all industrial enterprises above designated size. The output of smart and green products such as service robots, new energy vehicles, and solar cells all maintained double-digit growth. New forms of consumption continued to expand, new drivers of foreign trade such as the "new three" exports and cross-border e-commerce were cultivated at a faster pace, and new progress was made in high-quality development.

General Secretary Xi Jinping pointed out that high-quality development requires a new theory of productive forces to guide it, and new quality productive forces have already taken shape in practice and demonstrated strong driving and supporting force for high-quality development. We need to summarize and generalize them theoretically to guide new development practices.

Since the beginning of this year, on multiple important occasions and during inspections in various places, General Secretary Xi Jinping has made a series of important arrangements centering on developing new quality productive forces in light of local conditions and promoting high-quality development. In Tianjin, he pointed out that scientific and technological innovation and industrial innovation should be pursued together; in Hunan, he pointed out that advanced manufacturing should be made larger and stronger; in Chongqing, he required actively advancing the construction of the Chengdu-Chongqing economic circle and better leveraging its role as an important growth pole and new source of momentum for national high-quality development.

The Third Plenary Session of the 20th CPC Central Committee made systematic arrangements for improving the systems and mechanisms for promoting high-quality economic development and for promoting the development of new quality productive forces.

Accelerating the cultivation of new quality productive forces. Since the beginning of this year, a series of macro policies with great intensity and strong targeting have worked in concert. The state has made coordinated arrangements of 1 trillion yuan in ultra-long special treasury bonds to support the implementation of major national strategies and the building of security capacity in key areas, covering aspects such as scientific and technological research and development, digital infrastructure, and energy construction, thereby building up momentum and capacity for developing new quality productive forces. It supports a new round of large-scale equipment renewal and trade-ins of consumer goods, and promotes the high-end, intelligent, and green development of industries.

Aiming at new tracks in frontier fields, the state has accelerated the development of strategic emerging industry clusters and accurately identified and cultivated future industries with high potential. In the first half of the year, national investment in high-tech industries increased by 10.6% year on year, and investment in fields such as science and technology achievement transformation services and research and design services achieved double-digit growth. Industries such as the new generation of information technology, artificial intelligence, new materials, and high-end equipment have grown and expanded, giving rise to new economic growth points.

In the first half of the year, China's production and sales of new energy vehicles both exceeded 30%, and the total number of charging piles nationwide exceeded 10 million. This shipyard's order book extends to 2028, and more than 7 out of every 10 global orders for green-powered ships flow to China. Just recently, a 2-ton-class electric vertical take-off and landing aircraft completed its first flight across the Yangtze River. As the state encourages and supports the development of emerging industries such as the low-altitude economy, broader space is being opened up.

The Third Plenary Session of the 20th CPC Central Committee proposed improving relevant rules and policies and accelerating the formation of production relations more compatible with new quality productive forces. Localities and departments have acted quickly to deepen the reform of the science and technology system and stimulate original and disruptive technological innovation achievements; build a unified national market and allocate various resources efficiently; and strengthen institutional supply in new fields and new tracks, giving rise to new industries, new models, and new drivers. During this period, at the National Development and Reform Commission, a batch of reform plans is being studied intensively and will soon be implemented and take effect.

It is precisely because of optimism about the strong resilience and sustained positive momentum of the Chinese economy that recently many international institutions have raised their forecasts for China's economic growth in 2024. In the future, as a batch of reform measures that are ripe and tangible are implemented in an orderly manner, new quality productive forces characterized by high technology, high efficiency, and high quality will grow faster, injecting a steady stream of new momentum into promoting high-quality development.