Politics · China · 1 hr ago

China sets four principles for developing new productive forces

China sets four principles for developing new productive forces

China’s central government issued an opinion on October 9 setting out how the country should develop what it calls new productive forces.

It says development should be innovation-led, driven by reform, suited to local conditions and managed by establishing new industries before phasing out old ones.

The guidance responds to concerns about unrealistic investment, rushed expansion of emerging industries and neglect of upgrading traditional ones.

It also calls for closer links between scientific research and business needs, including choosing research projects according to demand and evaluating them by their practical use.

The aim is to help new technologies become useful products and economic activity.

The policy gives particular attention to clean energy, including wind, solar, energy storage and hydrogen.

China’s National Development and Reform Commission says these fields are entering a period of faster commercial growth, and cites an International Energy Agency estimate of $2.2 trillion in global clean-energy investment in 2026.

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