Zheng Zhajie, Director of the National Development and Reform Commission, stated at the 2024 Annual Meeting of the China Development Forum, which opened on the morning of March 24th, that the current world economic growth has not yet returned to pre pandemic levels, and the development momentum urgently needs to be strengthened. China actively cultivates and develops new quality productive forces, which not only can develop itself, but also inject more and stronger impetus into the world economic recovery and growth, bringing huge business opportunities to multinational corporations. The holding of this annual meeting coincides with the recent end of the National People's Congress and the Chinese People's Political Consultative Conference. This year's Chinese government work report lists "vigorously promoting the construction of a modern industrial system and accelerating the development of new quality productive forces" as the top ten tasks of government work in 2024. How can China develop new quality productive forces in the new year? Zheng Zhajie pointed out at the annual meeting that this year the National Development and Reform Commission will mainly take policy measures from three aspects. One is to lead industrial innovation with technological innovation. Focus on promoting the "four accelerations": accelerating the construction of innovation capabilities. Implement a batch of major scientific and technological projects, strengthen the position of enterprises as the main body of scientific and technological innovation, etc; Accelerate the transformation and upgrading of traditional industries. Implement actions to enhance the core competitiveness of the manufacturing industry, technological transformation and upgrading projects, and promote the high-end, intelligent, and green development of the manufacturing industry; Accelerate the cultivation and growth of emerging industries. Promote the deep integration of digital technology and the real economy, and implement the "Data Element X" action plan. Accelerate the integration of advanced manufacturing and modern service industries, and deepen the scale application of 5G. Building new growth engines such as biological manufacturing, commercial aerospace, new materials, and low altitude economy; Accelerate the layout of future industries, open up new tracks such as quantum technology and life sciences, and carry out the "artificial intelligence+" action. The second is to promote innovation in institutional mechanisms. Focus on the "three further steps": further improving the market basic system. Develop guidelines for the construction of a unified national market, improve the basic social credit system, rectify market monopolies and unfair competition, and release a new version of the negative list for market access; Further optimize the business environment. Establish a regular communication and exchange mechanism with enterprises, implement actions to improve and enhance the business environment, and create a market-oriented, legal, and international business environment; Further promote green and low-carbon transformation. Strengthen the green manufacturing industry, develop the green service industry, strengthen the green energy industry, and build a green, low-carbon, and circular economy system. The third is to expand high-level opening-up to the outside world. Focus on strengthening the "three collaborations": strengthening international scientific and technological cooperation. Support foreign technology enterprises and domestic scientific research institutions or enterprises to jointly carry out scientific and technological research, deeply implement the "the Belt and Road" scientific and technological innovation action plan, and jointly create an innovation ecology; Strengthen personnel exchange and cooperation. Further improve the convenience of communication between Chinese and foreign personnel, and provide convenience for foreign personnel to work, study, and travel in China; Strengthen investment, economic and trade cooperation. Steadily expanding institutional openness and deepening high-level openness in cross-border service trade and investment. We will make greater efforts to introduce foreign investment and carry out pilot projects in value-added telecommunications, gene diagnosis and treatment technology development and application. Accelerate the release of the 2024 version of the negative list for foreign investment access, and comprehensively lift restrictions on foreign investment access in the manufacturing industry. Continue to support the construction of a number of major foreign-funded projects and strengthen the guarantee of project elements. Expand market access for digital products and other products. Vigorously promote the openness and circulation of data development.