New Productive Forces: Embracing Technological Innovation for Economic Development

The concept of new productive forces emerged as a key buzzword representing the latest economic and social development trend in China and around the world. It refers to the transformation of various sectors and industries through technological innovation. New productive forces aim to reduce the consumption of natural resources and energy while expanding available resources. For instance, the adoption of electric cars revolutionizes the traditional fossil fuel-dependent transportation sector by utilizing battery technology and electric power systems. This buzzword signifies the importance of investing in technology for achieving higher-quality development.