New quality productive forces will be one of China's top priorities

Driving a shift to new quality productive forces will be among China's top priorities in promoting high-quality development in the long run, said Han Wenxiu, executive deputy director of the office of the Central Committee for Financial and Economic Affairs.

Highlighting the importance of improving the systems and mechanisms for promoting high-quality development, Han told a news conference on Friday in Beijing that fostering new quality productive forces in line with local conditions will help inject new impetus into the economy. 

His remarks came after the 20th Central Committee of the Communist Party of China adopted a resolution on further deepening reform comprehensively to advance Chinese modernization at its third plenary session held from Monday to Thursday in Beijing. 

"We will improve the institutions and mechanisms for fostering new quality productive forces in line with local conditions," said a communique released on Thursday. 

According to Han, the resolution said the country will accelerate the formation of production relations more adapted to the requirement of new quality productive forces, improve the systems and mechanisms for optimizing and upgrading traditional industries, and refine policies and governance systems for spurring of strategic industries. 

More efforts should also be made to establish a mechanism for investments and growth in future industries, improve the policy system for promoting digital industrialization and industrial digitalization, promote the aggregation of various advanced production factors toward the development of new quality productive forces, and significantly enhance total factor productivity. 

The resolution emphasizes the need to promote the deep integration of the real economy and the digital economy, accelerate the development of modern services, strengthen the construction of modern infrastructure, and enhance the resilience and safety level of industrial and supply chains. 

ouyangshijia@chinadaily.com.cn