Continuously Unleash the Strong Momentum Driving Economic Recovery and Improvement

Economic development requires a constant stream of momentum to propel it forward. When a country’s economy reaches a certain stage, changes in technological conditions, resource environments, external factors, and the like cause the original momentum to weaken, necessitating the formation of new momentum to ensure sustained, stable, and healthy development. Entering the New Era, China’s economy has shifted from a phase of high-speed growth to a phase of high-quality development. Traditional development momentum has gradually weakened, making it urgently necessary to rely on innovation to form new development momentum and achieve development that is of higher quality, more efficient, more equitable, more sustainable, and more secure. Facing this epochal issue, the Party Central Committee with Comrade Xi Jinping at its core has insisted on placing scientific and technological innovation at the core of the national development agenda, developing new quality productive forces in light of local conditions, and promoting the deep integration of scientific and technological innovation with industrial innovation. New technologies are constantly emerging, new industries are building up momentum, and new business forms are flourishing, while the endogenous driving force for high-quality development grows increasingly strong. In 2024, the added value of China’s “three new” economy [1]1 The “three new” economy refers to new industries, new business forms, and new business models, a statistical category used by China’s National Bureau of Statistics to track emerging economic activities. exceeded 24 trillion yuan, accounting for 18.01% of GDP. In the first half of this year, despite increased external shocks, China’s economy was able to achieve a growth rate of 5.3%, delivering an impressive result that exceeded market expectations. An important reason for this is that, under the guidance of scientific and technological innovation, new quality productive forces have grown robustly, providing strong support for the economy’s continued trend of recovery and improvement.

经济发展需要源源不断的动能来推动。一国经济发展到一定阶段，因技术条件、资源环境、外部因素等变化，原有动能减弱，需要形成新的动能，才能确保持续平稳健康发展。进入新时代，我国经济由高速增长阶段转向高质量发展阶段，传统发展动能逐渐减弱，迫切需要依靠创新形成新的发展动能，实现更高质量、更有效率、更加公平、更可持续、更为安全的发展。面对这一时代课题，以习近平同志为核心的党中央坚持把科技创新摆在国家发展全局的核心位置，因地制宜发展新质生产力，推动科技创新和产业创新深度融合，新技术不断涌现、新产业厚积薄发、新业态方兴未艾，高质量发展内生动力日益强劲。2024年，我国“三新”经济增加值超过24万亿元，占国内生产总值的比重达到18.01%。今年上半年，在外部冲击加大情况下，我国经济能够实现5.3%的增速，交出一份超出市场预期的精彩答卷，一个重要原因就在于，在科技创新引领下新质生产力茁壮成长，为经济延续回升向好态势提供了有力支撑。

China’s economy is large in scale, and moving forward requires stronger endogenous driving forces. Accelerating the shaping of new development momentum and new advantages, and forming an innovation-driven development model, is the fundamental guarantee for China’s economy to continue moving toward the new and the good. Currently, China’s economic development is at a critical stage where the transition between old and new momentum is breaking through and taking shape. On the one hand, the period of rapid development in real estate, infrastructure construction, and other sectors is gradually passing, traditional industries have successively peaked and entered a plateau phase, and the pulling effect of traditional growth momentum on economic growth continues to weaken. On the other hand, strategic emerging industries are accelerating their growth. The “new three items” [2]2 “New three items” is a term used in Chinese economic discourse to refer to new energy vehicles, lithium batteries, and photovoltaic products, which have become major export drivers, contrasting with the earlier “old three items” (clothing, furniture, and home appliances).—new energy vehicles, lithium batteries, and photovoltaic products—are developing rapidly, providing increasingly strong new momentum for the economy to move toward the new and the good. However, overall, in the short term, new momentum cannot yet fully offset the weakening impact of traditional momentum, and the foundation for economic recovery and improvement is not yet solid. This requires us to coordinate the relationship between cultivating new momentum and renewing old momentum, making greater efforts to promote the accumulation and consolidation of new momentum and the renewal and upgrading of traditional momentum. The meeting of the Political Bureau of the Central Committee held on July 30 emphasized persisting in using scientific and technological innovation to lead the development of new quality productive forces, accelerating the cultivation of emerging pillar industries with international competitiveness, and promoting the deep integration and development of scientific and technological innovation with industrial innovation. To do a good job in current economic work, we must adopt a more proactive attitude and more forceful measures, fully leverage the leading role of scientific and technological innovation, accelerate the development of new quality productive forces, inject stronger momentum into the economy, and make every effort to stabilize the development trend of China’s economic recovery and improvement.

我国经济体量大，向前发展必须要有更强的内生推动力。加快塑造发展新动能新优势，形成创新驱动发展新模式，是我国经济持续向新向好的根本保证。当前，我国经济发展正处于新旧动能转换破局成势的关键阶段。一方面，房地产、基础设施建设等高速发展期逐渐过去，传统产业发展陆续达峰并转入平台期，传统增长动能对经济增长的拉动作用持续减弱。另一方面，战略性新兴产业加快成长，新能源汽车、锂电池、光伏产品等“新三样”快速发展，为经济向新向好提供了日益强劲的新动能。但总体看，短期内新动能还难以完全对冲传统动能减弱的影响，经济回升向好的基础还不牢固。这就要求我们必须统筹好培育新动能和更新旧动能的关系，以更大力度促进新动能积厚成势、传统动能焕新升级。7月30日召开的中央政治局会议强调，坚持以科技创新引领新质生产力发展，加快培育具有国际竞争力的新兴支柱产业，推动科技创新和产业创新深度融合发展。做好当前经济工作，必须以更加积极的态度、更加有力的举措，充分发挥科技创新的引领作用，加快发展新质生产力，为经济注入更加强劲的动能，全力稳固我国经济回升向好的发展态势。

Strategic emerging industries represent the direction of the new round of technological revolution and industrial transformation and are key areas for cultivating new development momentum. In recent years, China’s strategic emerging industries have achieved rapid development, becoming an important engine driving the economy toward the new and the good, and are now at a crucial juncture for leaping to a higher level. However, from the perspective of development practice, the development of China’s strategic emerging industries still faces many contradictions and problems. For example, many key core technologies are controlled by others, investment and financing mechanisms are imperfect, the degree of industrial clustering is insufficient, there is a shortage of high-level talent, and regional layouts are homogenized. It is necessary to fully leverage the advantages of the new nationwide system for mobilizing resources [3]3 The “new nationwide system for mobilizing resources” (新型举国体制) refers to a state-led mechanism that combines market mechanisms with centralized coordination to achieve breakthroughs in strategic technologies, updated from the earlier planned-economy version., deepen the reform of the science and technology system, strengthen a technological innovation system with enterprises as the main body, market orientation, and deep integration of industry, academia, and research, and fight the battle for key core technologies. We should develop and strengthen long-term capital and patient capital, deeply promote the integrated cluster development of strategic emerging industries, and improve policies and governance systems to promote the development of strategic industries. We should deepen the reform of the talent development system and mechanism, making good and flexible use of all types of talent. We should promote orderly industrial development and healthy competition, and resolutely put an end to rushing headlong into low-level redundant construction.

战略性新兴产业代表新一轮科技革命和产业变革的方向，是培育发展新动能的关键领域。近年来，我国战略性新兴产业实现了快速发展，成为经济向新向好的重要引擎，正处于向更高位跃升的重要关口。但从发展实践看，我国战略性新兴产业发展仍面临不少矛盾问题。比如，不少关键核心技术受制于人，投融资机制不完善，产业集群度不够，高层次人才短缺，区域布局同质化，等等。要充分发挥新型举国体制优势，深化科技体制改革，强化以企业为主体、市场为导向、产学研深度融合的技术创新体系，打好关键核心技术攻坚战。发展壮大长期资本、耐心资本，深入推进战略性新兴产业融合集群发展，完善推动战略性产业发展政策和治理体系。深化人才发展体制机制改革，用好用活各类人才。促进产业有序发展和良性竞争，坚决杜绝一哄而上搞低水平重复建设。

Currently, the digital economy is reshaping the global economic landscape at an unprecedented speed, becoming a new driving force for economic growth. In recent years, China’s digital economy has flourished, playing an increasingly important role in promoting economic and social development and empowering various industries. In 2024, the added value of China’s core digital economy industries accounted for 10.4% of GDP, and the scale of the artificial intelligence industry exceeded 700 billion yuan. However, it must also be noted that there are still many problems in practice that constrain the innovation vitality of the digital economy. For example, there are shortcomings in digital infrastructure, a mismatch between supply and demand in artificial intelligence, imperfect laws, regulations, and governance systems, and phenomena such as “data silos,” data abuse, and algorithmic discrimination are relatively common. It is necessary to deeply implement the “AI+” action, vigorously promote the large-scale commercial application of artificial intelligence, fully leverage China’s advantages such as a complete industrial system, large market scale, and rich application scenarios, and accelerate the popularization and deep integration of artificial intelligence in various fields of economic and social development. We should optimize the national layout of computing power resources and build digital industry clusters with international competitiveness. We should accelerate the improvement of basic data systems and deepen the development and utilization of data resources. We should promote the standardized and healthy development of the platform economy, better leveraging its positive role in promoting innovation, expanding consumption, and stabilizing employment.

当前，数字经济正以前所未有的速度重塑全球经济格局，成为推动经济增长的新动力。近年来，我国数字经济蓬勃发展，在促进经济社会发展、赋能千行百业中的作用日益增强。2024年，我国数字经济核心产业增加值占国内生产总值比重达到10.4%，人工智能产业规模突破7000亿元。但也要看到，实践中仍存在不少制约数字经济创新活力的问题。比如，数字基础设施存在短板，人工智能供需对接不畅，法律法规和治理体系不健全，“数据孤岛”、数据滥用、算法歧视等现象较为普遍，等等。要深入实施“人工智能+”行动，大力推进人工智能规模化商业化应用，充分发挥我国产业体系完备、市场规模大、应用场景丰富等优势，推动人工智能在经济社会发展各领域加快普及、深度融合。优化全国算力资源布局，打造具有国际竞争力的数字产业集群。加快完善数据基础制度，深化数据资源开发利用。促进平台经济规范健康发展，更好发挥其在促创新、扩消费、稳就业等方面的积极作用。

New momentum cannot be simply equated with emerging industries; traditional industries can also nurture new momentum. China’s traditional industries are large in scale and widely distributed across sectors, accounting for over 80% of the country’s manufacturing industry. They still play an irreplaceable role in promoting economic growth, absorbing employment, and stabilizing industrial and supply chains, and some industries have strong international competitiveness. To stabilize the foundation of economic operation, attention must be paid to transforming and upgrading traditional industries and promoting the renewal and upgrading of traditional momentum. “We cannot throw away the tools we use to eat with.” [4]4 This is a paraphrase of a well-known remark by Xi Jinping, warning However, looking at the situation of traditional industry transformation and upgrading in recent years, constrained by factors such as shortages of funds, professional talent, and technology, some enterprises face problems of being “unwilling to transform,” “daring not to transform,” and “unable to transform.” It is necessary to further expand the scope and lower the threshold, deeply implement the project for major technological transformation and upgrading of the manufacturing industry and large-scale equipment renewal. We should accelerate the cultivation of service providers who understand both the industry and digitalization, and increase support for the digital transformation of small and medium-sized enterprises. We should accelerate the high-quality development of key manufacturing industry chains, and strengthen the reengineering of the industrial foundation and the tackling of major technical equipment.

新动能不能简单等同于新兴产业，传统产业也能孕育新动能。我国传统产业规模大、行业分布广，在我国制造业中占比超过80%，在促进经济增长、吸纳就业、稳定产业链供应链等方面仍发挥着不可替代的作用，部分产业具有较强国际竞争力。稳固经济运行基础，必须注重改造提升传统产业，推进传统动能焕新升级，“不能把手里吃饭的家伙先扔了”。而从近年传统产业改造升级情况看，受制于资金、专业性人才和技术短缺等因素，一些企业存在“不想转”、“不敢转”、“不会转”问题。要进一步扩范围、降门槛，深入实施制造业重大技术改造升级和大规模设备更新工程。加快培育一批既懂行业又懂数字化的服务商，加大对中小企业数字化转型的支持。加快制造业重点产业链高质量发展，强化产业基础再造和重大技术装备攻关。

With the improvement of the development level, the service industry accounts for an increasingly higher proportion of the national economy and has become an important driving force supporting economic growth. In the first half of this year, the added value of the service industry increased by 5.5% year-on-year, contributing 60.2% to economic growth. The service industry has spawned a large number of new industries, new business forms, and new models, contributing more and more to economic growth. However, China’s consumer services face problems such as insufficient effective supply, inadequate convenience and sharing, and a suboptimal consumption environment, while producer services face issues such as insufficient development of knowledge-intensive services and weak international competitiveness. It is necessary to accelerate the improvement of policies supporting the high-quality development of consumer services such as healthcare, elderly care, and education, accelerate the digital empowerment of consumer services, enrich the digital application scenarios of consumer services, and improve the diversity, convenience, and quality of consumer service supply. We should promote the extension of producer services to specialization and the high end of the value chain, promote the deep integration of modern service industries with advanced manufacturing and modern agriculture, and take multiple measures to strengthen producer services.

随着发展水平提升，服务业在国民经济中占比越来越高，已成为支撑经济增长的重要动力。今年上半年，服务业增加值同比增长5.5%，对经济增长贡献率达60.2%，服务业催生了大量新产业、新业态、新模式，对经济增长的贡献越来越大。但我国生活性服务业面临有效供给不足、便利共享不够、消费环境不优等问题，生产性服务业存在知识密集型服务业发展不充分、国际竞争力不强等问题。要加快完善支持医疗、养老、教育等生活性服务业高质量发展的政策，加快生活服务数字化赋能，丰富生活服务数字化应用场景，提高生活服务供给的多样化、便利化、品质化水平。推动生产性服务业向专业化和价值链高端延伸，促进现代服务业同先进制造业、现代农业深度融合，多措并举做强生产性服务业。

Currently, the Chinese economy stands at a new starting point for high-quality development, at a critical period of climbing over a ridge and crossing a pass. Steadfastly advancing along the path of high-quality development charted by the Party Central Committee, focusing on forging new engines, shaping new advantages, and opening up new spaces, the innovation momentum and development vitality of the Chinese economy will surely surge forth even more vigorously, and the Chinese economy will surely create new development miracles while braving the wind and waves.

当前，中国经济站上了高质量发展的崭新起点，正处于爬坡过坎的关键时期。沿着党中央指引的高质量发展道路笃定前行，着力打造新引擎、塑造新优势、打开新空间，中国经济的创新动力、发展活力必将更加勃发奔涌，中国经济也必将在搏击风浪中创造新的发展奇迹。

Online Editor: Tongxin

网络编辑：同心