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China

Accelerating the Construction of a Modern Industrial System Supported by the Real Economy - Review of the Implementation of the Spirit of the Central Political Bureau Conference and Doing a Good Job in Current Economic Work Series II

2023-05-02   

The Political Bureau meeting of the Central Committee of the Communist Party of China held on April 28th proposed to "accelerate the construction of a modern industrial system supported by the real economy" and "consolidate the foundation of technological self-reliance and self-improvement, cultivate and strengthen new driving forces". The real economy is the foundation of a country's economy, and whether it is dealing with current risks and challenges or accumulating sustained momentum, it is necessary to firmly grasp the key of the real economy. We must adhere to placing the focus of economic development on the real economy, promote new industrialization, advance the upgrading of industrial foundations and modernization of industrial chains, and improve economic quality, efficiency, and core competitiveness. The focus of economic development should be placed on the real economy. Among the various deployments made at this meeting of the Central Political Bureau, "accelerating the construction of a modern industrial system supported by the real economy" is of great importance. Building a modern industrial system is an inevitable requirement for promoting high-quality development, an urgent need to win the initiative of major countries in competition, and an important task for comprehensively building a socialist modernized country. "Cai Zhibing, associate professor of economics teaching and research at the Central Party School (National School of Administration), said that the real economy is the" foundation "of the modern industrial system and the" ballast stone "of a country's economy, addressing the difficulties and challenges faced by the current economic operation, It is crucial to strengthen and optimize the real economy. The improvement of national competitiveness relies on the real economy. The report of the 20th National Congress of the Communist Party of China emphasizes that "the focus of economic development should be on the real economy". Consolidate the foundation and cultivate the foundation. Advanced manufacturing is a key aspect of the real economy, and economic development cannot deviate from reality to emptiness at any time. In recent years, China has been focusing on key industrial chains in the manufacturing industry, identifying key core technologies and weak links in components, and continuously tackling key issues; Upgrade traditional industries, vigorously promote technological transformation and equipment updates; Focus on strengthening advantageous industries, consolidate and enhance the advantages of the entire industry chain; Focusing on cultivating and expanding emerging industries, continuously enriching and expanding new application scenarios. Data shows that in the first quarter of this year, the added value of industries above designated size in China increased by 3% year-on-year, and overall stabilized and rebounded. Among the 41 major industrial industries, 23 maintained year-on-year growth. Guo Liyan, director of the Comprehensive Situation Research Office of the China Academy of Macroeconomics, said that only with a stable real economy can the foundation of economic development become more solid and reliable. At present, China still has greater policy space to stabilize the operation of the real economy, and we need to accelerate the construction of a modern industrial system to effectively ensure high-quality development. The conference on consolidating the foundation of technological self-reliance and self-improvement, cultivating new driving forces, pointed out the need to consolidate the foundation of technological self-reliance and self-improvement, and cultivate and strengthen new driving forces. Innovation is the driving force behind the high-quality development of the real economy. Promoting technological innovation and deep integration of the real economy is not only a "just need" for current development, but also a major plan for long-term planning for the future. Consolidate the foundation of technological self-reliance and self-improvement, and further increase the research on core and key technologies. In the first quarter of this year, investment in the equipment manufacturing industry and high-tech service industry increased by 17% and 17.8% year-on-year, respectively, which helped promote the development of the high-tech industry. According to the spirit of the Central Political Bureau meeting, various industries in various regions should adhere to innovation driven development, focus on key manufacturing industry chains, identify key core technologies and weak links in components, concentrate high-quality resources to jointly tackle key problems, and ensure the independent, controllable, safe, and reliable industrial system

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