Identify the Path and Accelerate the Cultivation and Development of New Quality Productive Forces

Productive forces are the fundamental driving force of human social development. New quality productive forces have already taken shape in practice and demonstrated a powerful impetus and support for high-quality development. The "Decision of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese-Path Modernization,"[1]1 The Third Plenary Session of the 20th Central Committee of the CPC was held in July 2024. The "Decision" adopted at that session is a key document outlining the Party's reform agenda for the current period. reviewed and approved by the Third Plenary Session of the 20th Central Committee of the Communist Party of China, emphasizes "promoting revolutionary breakthroughs in technology, innovative allocation of production factors, and deep industrial transformation and upgrading; promoting the optimized combination and upgraded leap of workers, means of labor, and subjects of labor; giving rise to new industries, new models, and new drivers; and developing productive forces characterized by high technology, high efficiency, and high quality." This points the way for us to seize opportunities, identify the path, implement targeted measures, and accelerate the cultivation and development of new quality productive forces.

生产力是人类社会发展的根本动力。新质生产力已经在实践中形成并展示出对高质量发展的强劲推动力、支撑力。党的二十届三中全会审议通过的《中共中央关于进一步全面深化改革、推进中国式现代化的决定》强调，“推动技术革命性突破、生产要素创新性配置、产业深度转型升级，推动劳动者、劳动资料、劳动对象优化组合和更新跃升，催生新产业、新模式、新动能，发展以高技术、高效能、高质量为特征的生产力”。这为我们抢抓机遇、找准路径、靶向施策，加快培育和发展新质生产力指明了方向。

Accelerate Deep Industrial Transformation and Upgrading

加快产业深度转型升级

Promoting deep industrial transformation and upgrading can not only substantially increase labor productivity and total factor productivity, driving high-quality economic development, but also help gain the initiative in the restructuring of global industrial chains.

促进产业深度转型升级，不仅能够大幅度提高劳动生产率和全要素生产率，推动经济高质量发展，而且有助于在全球产业链重构中赢得主动。

Continuously optimize the industrial structure. Since reform and opening up, China's industrial structure has been continuously adjusted, effectively driving the improvement of production efficiency. Currently, a new round of technological revolution and industrial transformation is accelerating. The focus should be on cultivating and developing new quality productive forces, further promoting the transformation and upgrading of industries toward capital-intensive, technology-intensive, and knowledge-intensive types, accelerating the growth of industries and sectors with high labor productivity, realizing the continuous conversion of old and new drivers, and substantially increasing total factor productivity. Seize the opportunities presented by the restructuring of global value chains and the reshaping of the industrial division of labor, promote China's industries to ascend to the mid-to-high end of the global industrial and value chains, and strive to occupy a favorable position in the international division of labor system.

推动产业结构持续优化。改革开放以来，我国产业结构不断调整，有效带动了生产效率的提高。当前，新一轮科技革命和产业变革加速演进，要聚焦培育发展新质生产力，进一步推动产业向资本密集型、技术密集型、知识密集型转型升级，促进劳动生产率高的行业和部门加速成长，实现新旧动能接续转换，大幅提升全要素生产率。抓住全球价值链重构和产业分工格局重塑的机遇，推动我国产业向全球产业链价值链中高端攀升，力求在国际分工体系中占据有利地位。

Coordinate the advancement of upgrading traditional industries, strengthening emerging industries, and cultivating future industries. China's traditional industries account for over 80% of the manufacturing sector. They are the foundation of the modern industrial system and an important channel for absorbing employment. It is necessary to raise the level of high-end, intelligent, green, and integrated development of traditional industries, implement major technological transformation and upgrading projects in manufacturing and large-scale equipment renewal projects, and make traditional industries an important carrier for forming new quality productive forces. Strategic emerging industries and future industries are important fronts for cultivating and developing new quality productive forces. The focus should be on areas such as new energy, new materials, high-end equipment, new energy vehicles, and aerospace, strengthening research on key core technologies, consolidating and strengthening strategic emerging industries, and forward-looking deployment of a number of future industries such as future networks and quantum information, to seize the initiative in future development, shape new advantages in international competition, and provide broad space for the cultivation and development of new quality productive forces.

统筹推进传统产业升级、新兴产业壮大、未来产业培育。我国传统产业在制造业中占比超过80%，是现代化产业体系的基底，也是吸纳就业的重要渠道，要提高传统产业高端化、智能化、绿色化、融合化发展水平，实施制造业重大技术改造升级和大规模设备更新工程，让传统产业成为形成新质生产力的重要载体。战略性新兴产业和未来产业是培育和发展新质生产力的重要阵地，要聚焦新能源、新材料、高端装备、新能源汽车、航空航天等领域，加强关键核心技术攻关，巩固壮大战略性新兴产业，前瞻布局未来网络、量子信息等一批未来产业，掌握未来发展主动权，塑造国际竞争新优势，为新质生产力培育发展提供广阔空间。

Promote coordinated regional industrial development. Developing new quality productive forces requires both a national chessboard approach to overall planning and leveraging the comparative advantages of various regions. Different regions need to base their efforts on local economic development levels, resource conditions, factor endowments, and other development realities, combining their own industrial structure characteristics, scientific and technological innovation resources, infrastructure conditions, etc., to cultivate new industries and new drivers according to local conditions, selectively choose industrial development models, and strengthen the effective and coordinated allocation of various resource factors. At the same time, promote the orderly transfer of industries between regions, build a regional division of labor and cooperation system, and optimize the spatial layout of new quality productive forces.

促进区域产业协同发展。发展新质生产力既要坚持全国一盘棋来谋篇布局，又要发挥各地区比较优势。不同地区需立足地方经济发展水平、资源条件和要素禀赋等发展实际，结合自身产业结构特点、科技创新资源、基础设施状况等，因地制宜培育新产业、新动能，有针对性地选择产业发展模式，加强各类资源要素的有效统筹配置。同时，推动产业在区域之间有序转移，构建区域分工协作体系，优化新质生产力空间布局。

Realize Innovative Allocation of Production Factors

实现生产要素创新性配置

The innovative allocation of production factors is an objective requirement for cultivating and developing new quality productive forces. It is necessary to promote the smooth flow of factor resources such as technology, talent, and capital on a larger scale, fully leverage the market's scale effect and agglomeration effect, continuously improve the efficiency of factor supply-demand matching, and increase total factor productivity.

生产要素的创新性配置是培育发展新质生产力的客观要求，要推动技术、人才、资金等要素资源在更大范围内顺畅流动，充分发挥市场的规模效应和集聚效应，不断提升要素供需匹配效率，提高全要素生产率。

Integrate scientific and technological innovation resources. Scientific and technological innovation is the core element of developing new quality productive forces. It is necessary to integrate scientific and technological innovation resources and make greater efforts in leading industrial innovation with scientific and technological innovation. Gather forces from all sides to carry out original and leading scientific and technological research, creating more hard-core technologies that lead the development of new quality productive forces. Fully leverage the advantages of the new nationwide system for mobilizing resources,[2]2 The "new nationwide system for mobilizing resources" (新型举国体制) refers to a state-led mechanism for concentrating resources on major strategic scientific and technological tasks, updated from the earlier planned-economy model to incorporate market mechanisms. continuously improve the allocation efficiency of scientific and technological innovation resources, promote the concentration of various innovation resources on major scientific and technological projects, persistently strengthen basic research and research on core technologies, accelerate the improvement of original innovation capabilities, speed up the transformation and industrialization of scientific and technological achievements, and achieve high-level scientific and technological self-reliance and self-strengthening.

整合科技创新资源。科技创新是发展新质生产力的核心要素。要整合科技创新资源，在以科技创新引领产业创新方面下更大功夫。集聚各方力量进行原创性、引领性科技攻关，打造更多引领新质生产力发展的硬科技。充分发挥新型举国体制优势，不断提高科技创新资源的配置效率，推动各类创新资源向重大科技项目集聚，持续强化基础研究和核心技术攻关，加快提升原始创新能力，加速科技成果转化和产业化，实现高水平科技自立自强。

Promote the optimal allocation of talent resources. Workers are the most important and active factor among the productive forces. Developing new quality productive forces makes talent the key. Currently, China's population development faces profound and complex changes in circumstances. It is necessary to further improve the overall quality level of the population, accelerate the transformation of the demographic dividend into a talent dividend, promote the smooth and orderly flow of talent, fully unleash the potential of human resources, and better integrate the talent factor with other factors.

推动人才资源优化配置。劳动者是生产力中最重要、最活跃的因素。发展新质生产力，人才是关键。当前，我国人口发展面临着深刻而复杂的形势变化。要进一步提升人口整体素质水平，推动人口红利加快向人才红利转化，促进人才顺畅有序流动，充分释放人力资源潜能，使人才要素与其他要素更好组合在一起。

Improve the quality and efficiency of financial services for the real economy. The real economy is the foundation of finance, finance is the lifeblood of the real economy, and serving the real economy is the bounden duty of finance. As the core element of developing new quality productive forces, scientific and technological innovation is characterized by high costs, long R&D cycles, high risks, and difficulty in transforming and applying achievements. All stages of scientific and technological innovation require financial support. According to the characteristics and formation laws of new quality productive forces, it is necessary to promote the allocation of financial resources to areas such as next-generation information technology, high-end manufacturing, green environmental protection, new materials, and biomedicine; actively develop venture capital; strengthen patient capital;[3]3 "Patient capital" (耐心资本) is a term used in Chinese policy discourse to describe long-term investment capital that is tolerant of risk and slow returns, suitable for funding foundational innovation and early-stage technology ventures. guide financial capital to invest early, invest small, invest long-term, and invest in hard-core technology; and at the same time, increase financial support for the transformation and upgrading of traditional industries.

提升金融服务实体经济的质效。实体经济是金融的根基，金融是实体经济的血脉，为实体经济服务是金融的天职。作为发展新质生产力的核心要素，科技创新具有成本高、研发周期长、风险大、成果转化应用难的特点，科技创新的各个阶段都需要金融支持。应根据新质生产力特征与形成规律，推动金融资源投向新一代信息技术、高端制造、绿色环保、新材料、生物医药等领域，积极发展风险投资，壮大耐心资本，引导金融资本投早、投小、投长期、投硬科技，同时加大金融对传统产业改造升级的支持力度。

Deepen Institutional Mechanism Reform

深化体制机制改革

Productive forces determine relations of production, and relations of production must adapt to the development of productive forces. It is necessary to remove blockages and choke points that constrain the development of new quality productive forces through reform, gradually form new relations of production that are compatible with new quality productive forces, and enable all kinds of advanced and high-quality innovation factors to gather towards the development of new quality productive forces.

生产力决定生产关系，生产关系需与生产力发展相适应。要通过改革打通束缚新质生产力发展的堵点卡点，逐步形成与新质生产力相适应的新型生产关系，让各类先进优质创新要素向发展新质生产力集聚。

Better leverage the role of market mechanisms. Build a more complete institutional mechanism for market-based allocation of factors, accelerate the construction of a unified, open, competitive, and orderly market system, promote the construction of factor market systems, achieve market-determined factor prices, orderly and autonomous flow, and efficient and fair allocation, creating a favorable environment for the development of new quality productive forces. Fully leverage the role of state-owned enterprises as the backbone force in cultivating and developing new quality productive forces, promote state-owned enterprises to improve their innovation systems, enhance innovation capabilities, stimulate innovation vitality, and build them into sources of original technology. Encourage, guide, and support qualified private enterprises to play the role of a new force, enhance innovation capabilities, and explore new fields, new technologies, and new markets.

更好发挥市场机制作用。构建更加完善的要素市场化配置体制机制，加快建设统一开放、竞争有序的市场体系，推进要素市场制度建设，实现要素价格市场决定、流动自主有序、配置高效公平，为新质生产力发展创造良好环境。充分发挥国有企业培育发展新质生产力的中坚力量作用，推动国有企业完善创新体系，增强创新能力，激发创新活力，打造原创技术策源地。鼓励引导和支持有条件的民营企业发挥生力军作用，提升创新能力，探索新领域、新技术、新市场。

Improve the income distribution system. Adhere to the principle of distribution according to work as the mainstay while allowing coexistence of multiple modes of distribution, increase the share of labor remuneration in primary distribution, improve the mechanism for determining, reasonably increasing, and guaranteeing payment of workers' wages, and improve policies and systems for distribution according to factors. Improve the redistribution mechanism, fully leverage the functions of social security systems such as unemployment insurance. Allow scientific and technical personnel greater autonomy in the distribution of income from the transformation of scientific and technological achievements, and deepen the reform of empowering rights regarding job-related scientific and technological achievements.

完善收入分配制度。坚持按劳分配为主体、多种分配方式并存，提高劳动报酬在初次分配中的比重，完善劳动者工资决定、合理增长、支付保障机制，健全按要素分配政策制度。完善再分配机制，充分发挥失业保险等社会保障制度功能。允许科技人员在科技成果转化收益分配上有更大自主权，深化职务科技成果赋权改革。

Integrate the advancement of education development, scientific and technological innovation, and talent cultivation. In accordance with the requirements for developing new quality productive forces, smooth the virtuous cycle of education, science and technology, and talent, and improve the working mechanism for talent cultivation, introduction, use, and reasonable flow. Accelerate the construction of a high-quality education system, coordinate the reform of education methods, school-running models, management systems, and guarantee mechanisms, and strengthen the cultivation of people's comprehensive quality and scientific and technological innovation capabilities. Focus reform efforts on the most pressing issues constraining high-level scientific and technological self-reliance and self-strengthening, optimize resource allocation, and achieve the organic combination of laying out major scientific research tasks with developing high-quality education and cultivating high-level talent. Improve the mechanisms for independent talent cultivation and orderly talent flow, strengthen talent incentive mechanisms, stimulate talent's innovation and creativity, accelerate the shaping of modern human resources that are of good quality, sufficient quantity, optimized structure, and reasonable distribution, and provide support for the development of new quality productive forces.

一体推进教育发展、科技创新、人才培养。按照发展新质生产力的要求，畅通教育、科技、人才的良性循环，完善人才培养、引进、使用、合理流动的工作机制。加快建设高质量教育体系，统筹推进育人方式、办学模式、管理体制、保障机制改革，加强对人的综合素质和科技创新能力的培养。围绕制约高水平科技自立自强最紧迫的问题改革攻坚，优化资源配置，实现布局重大科研任务和发展高质量教育、培养高层次人才的有机结合。完善人才自主培养机制与人才有序流动机制，强化人才激励机制，激发人才创新创造活力，加快塑造素质优良、总量充裕、结构优化、分布合理的现代化人力资源，为发展新质生产力提供支撑。

Online Editor: Paul

网络编辑：保罗