The Third Plenary Session of the 20th Central Committee of the Communist Party of China proposed to improve the system and mechanism for developing new quality productive forces according to local conditions. Currently, China is promoting development through reform, developing new quality productive forces according to local conditions, and accelerating the cultivation of new driving forces and advantages. The Chinese economy is striving to move forward on the road of high-quality development. This year, the Chinese economy has made steady progress and new quality productive forces have grown rapidly. In the first half of the year, the added value of high-tech manufacturing industries above designated size increased by 8.7% year-on-year, with a growth rate 2.7 percentage points higher than that of all industries above designated size. The production of intelligent green products such as service robots, new energy vehicles, and solar cells has maintained double-digit growth. New types of consumption continue to expand, and new foreign trade drivers such as "new three types" and cross-border e-commerce are accelerating their cultivation, achieving new results in high-quality development. In Tianjin, he pointed out that we should focus on both technological innovation and industrial innovation; In Hunan, he pointed out the need to expand and strengthen the advanced manufacturing industry; In Chongqing, he called for actively promoting the construction of the Chengdu Chongqing dual city economic circle, better leveraging its role as an important growth pole and new driving force for high-quality development across the country. The Third Plenary Session of the 20th Central Committee of the Communist Party of China made systematic arrangements for improving the system and mechanism for promoting high-quality economic development and promoting the development of new quality productive forces. Accelerate the cultivation of new quality productivity. Since the beginning of this year, a series of strong and targeted macro policies have been jointly implemented. The state has made an overall arrangement of 1 trillion yuan of ultra long term special treasury bond to support the implementation of major national strategies and the building of security capacity in key areas, covering scientific and technological research and development, digital infrastructure, energy construction and other aspects, so as to build momentum and energy for the development of new quality productivity. Support a new round of large-scale equipment updates and trade in of consumer goods, promoting the high-end, intelligent, and green development of the industry. Targeting cutting-edge fields and new tracks, the country is accelerating the development of strategic emerging industry clusters, accurately identifying and cultivating high potential future industries. In the first half of the year, investment in high-tech industries in China increased by 10.6% year-on-year, with double-digit growth in investment in areas such as technology transfer services, research and development, and design services. The development and growth of industries such as new generation information technology, artificial intelligence, new materials, and high-end equipment have given rise to new economic growth points. In the first half of the year, the production and sales of new energy vehicles in China exceeded 30%, and the total number of charging stations in the country exceeded 10 million. This shipyard's current orders are scheduled until 2028, with over 7 out of every 10 global orders for green powered vessels flowing to China. Recently, a 2-ton electric vertical takeoff and landing aircraft completed its maiden flight across the Yangtze River. With the encouragement and support of emerging industries such as low altitude economy by the government, broader space is being opened up. The Third Plenary Session of the 20th Central Committee of the Communist Party of China proposed to improve relevant rules and policies, and accelerate the formation of production relations that are more suitable for the new quality of productive forces. Various regions and departments have quickly taken action to deepen the reform of the scientific and technological system, stimulate original and disruptive technological innovation achievements; Building a unified national market and efficiently allocating various resources; Strengthen the supply of new fields, new track systems, and stimulate the emergence of new industries, new models, and new driving forces. During this period, a number of reform plans are being intensively studied by the National Development and Reform Commission and will soon be implemented with significant results. It is precisely because of the strong resilience and sustained positive momentum of the Chinese economy that many international institutions have recently raised their expectations for China's economic growth in 2024. In the future, with the orderly implementation of a number of reform measures that are mature and accessible, the new quality productivity characterized by high technology, high efficiency, and high quality will accelerate its growth, injecting a continuous stream of new impetus into promoting high-quality development. (New Society)