Exploring China's Transition from Old to New Driving Forces -- From the Perspective of New Productive Forces
This paper explores Chinas transition from traditional growth drivers, such as manufacturing and investment, to new quality productive forces that emphasize innovation, technological advancement, and sustainability. Against the backdrop of diminishing returns from resource-intensive industries and rising global competition, China has strategically pivoted toward innovation-driven growth as a necessary path for long-term economic resilience. The research focuses on analyzing the role of new quality productive forces in driving this transition, with a particular emphasis on their impact on productivity, industrial upgrading, and sustainable development. Using a combination of qualitative analysis and case studies, this paper examines the technological innovations and policy initiatives that are reshaping Chinas economic landscape. The study includes an analysis of sectors such as renewable energy, telecommunications, and electric vehicles to illustrate how these new forces are transforming industries and creating new opportunities. The findings reveal that while the transition presents significant challenges, such as the need for large-scale workforce reskilling and managing technological disruptions, it also offers substantial opportunities for economic growth and global leadership. The study concludes that fostering new quality productive forces is essential for China to maintain its competitive edge in the digital economy and achieve sustainable, long-term growth.
Authors
- Zixin Zhu (ORCID: https://orcid.org/0000-0002-8107-8728)
Institutions
- New York University (US)
Publication Details
- Journal
- Advances in Economics Management and Political Sciences
- Published
- 2024-12-26
- DOI
- https://doi.org/10.54254/2754-1169/2024.ld18576
- Primary Topic
- Economic Zones and Regional Development
- Type
- article
- Field-Weighted Citation Impact
- 0.00