Developing New-Type Productivity: The Key to and Balance in Industrial Upgrading

Developing New-Type Productivity: The Key to and Balance in Industrial UpgradingProfessor Wang Yong, Deputy Dean of the Institute of New Structural Economics at Peking University and Secretary-General of the New Structural Economics Research Alliance, presented a crucial perspective at the 2024 China National Radio (CNR) Finance Annual Dialogue. He argued that developing new-type productivity hinges on industrial upgrading, advocating a strategy tailored to specific circumstances based on comparative advantages

Developing New-Type Productivity: The Key to and Balance in Industrial Upgrading

Professor Wang Yong, Deputy Dean of the Institute of New Structural Economics at Peking University and Secretary-General of the New Structural Economics Research Alliance, presented a crucial perspective at the 2024 China National Radio (CNR) Finance Annual Dialogue. He argued that developing new-type productivity hinges on industrial upgrading, advocating a strategy tailored to specific circumstances based on comparative advantages. This involves balancing the development and layout of traditional, emerging, and future industries, while considering both short-term demand stimulation and long-term investment.

Professor Wangs remarks profoundly illuminate the strategic path toward developing new-type productivity, emphasizing industrial upgrading and balanced development as core elements. He stressed that this isn't simply about chasing cutting-edge technologies and future industries, but a complex process requiring careful consideration of a region's developmental stage and resource endowments. He highlighted the need for developing traditional industries based on their current economic importance and potential value, upgrading them to enhance efficiency and competitiveness. This strategic balance ensures sustained economic growth while maintaining a healthy and sustainable industrial structure, mitigating the risk of neglecting traditional industry foundations in the pursuit of emerging sectors. Only by organically integrating traditional, emerging, and future industries into a coordinated ecosystem can economic potential be maximized.

Specifically, Professor Wang suggests leveraging China's large domestic market, abundant human capital, and robust industrial base to promote the integrated and clustered development of strategic emerging industries. This isn't simply industrial agglomeration, but necessitates establishing close links and synergies among industries, fostering a mutually reinforcing and collaborative industrial cluster. Furthermore, it requires continuously enhancing the competitiveness of strategic emerging industries across different developmental phases to navigate the increasingly complex international competitive landscape and external challenges. This necessitates dynamic adjustments, proactively identifying and addressing bottlenecks, and adapting to market changes.

Professor Wang also underscored the importance of investing in "technology, education, and talent," emphasizing their role in supplementing crucial intangible capital. He highlighted technology as the primary productive force, education as the foundation for talent cultivation, and talent as the driving force for social progress. The organic integration of technological innovation, educational development, and talent cultivation provides sustained impetus for developing new-type productivity and offers intellectual support and talent security for industrial upgrading. This "technology-education-talent" trinity is crucial for sustainable development and enhancing national competitiveness.

Professor Wang's viewpoint is not merely theoretical; it's grounded in a profound analysis of China's current economic situation and an accurate judgment of future trends. He emphasizes the need for systematic thinking and a comprehensive strategic plan, requiring not only macroeconomic regulation and policy guidance from the government but also active participation from enterprises and market entities. Only through the concerted efforts of government, enterprises, and the market can the development of new-type productivity and high-quality economic growth be achieved.

His strategy of "adopting comparative advantages, tailoring measures to local conditions, and implementing differentiated policies" is particularly important. Different regions should select industries aligning with their resource endowments and industrial foundations, avoiding blind imitation and duplicate construction. This requires in-depth analysis of regional industrial structures and the formulation of realistic development plans to prevent resource waste and developmental imbalances. This tailored approach ensures the sustainable development of new-type productivity and maximizes the comparative advantages of each region.

In conclusion, Professor Wang's remarks at the 2024 CNR Finance Annual Dialogue provide valuable theoretical guidance and practical principles for understanding and promoting the development of new-type productivity. He highlights the crucial role of industrial upgrading and the importance of balancing traditional, emerging, and future industries. Crucially, he emphasizes leveraging existing advantages, tailoring strategies to local conditions, and prioritizing investment in technology, education, and talent to provide sustained momentum for developing new-type productivity. This is not only significant for China's future economic development but also offers valuable experience and lessons for other developing countries. Through continuous effort and improvement, we can achieve high-quality economic development and secure a more advantageous position in global competition.

Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])