China releases guidance on modern productive forces

The Central Committee of the Chinese Communist Party and the State Council have issued guidelines aimed at accelerating the development of modern productive forces to promote high-quality growth. The principles include 19 key measures across five areas, such as advancing scientific and technological innovation, integrating scientific innovation with industrial development, creating new developmental pathways, and strengthening institutional innovation along with talent development mechanisms. The guidelines emphasize that developing modern productive forces, alongside reforms and adaptation to local conditions, is fundamental to achieving high-quality economic growth. The focus is on advanced technology, efficiency, and quality, while also considering the relationship between government and market, development, and security.

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