Lujiazui, Shanghai's financial center, forms a perfect backdrop to Shanghai's Bund. [Wang Gang/For China Daily]

Shanghai Lujiazui Financial Center.

China is now pursuing high-quality development as opposed to high-speed, quantitative growth. Its pursuit has been boosted by "new quality productive forces" and new innovations. This is not a bolt from the blue; instead, it has been conditioned by internal and external factors.

China is now pursuing high-quality development rather than rapid growth in quantity. This high-quality development is driven by "new quality productivity" and innovation. High quality development is not achieved overnight, but is affected by both internal and external factors.

Internally, China is pursuing high-quality, innovation-driven development. From the 1980s to the 2010s, China's GDP grew at an average rate of more than 9 percent per year, even in double digits for some years. While the development of China's agricultural and industrial sectors has reached higher levels, the development of the service sector has opened the door to grander achievements.

Internally, China has always followed the path of high-quality development driven by innovation. From the 1980s to 2010, China's GDP grew at an average annual growth rate of more than 9%, and even at a double-digit rate in some years. Although China's agricultural and industrial development has reached a high level, the development of the service industry is still very promising.

Externally, global tensions have motivated China to focus on high-quality development, particularly to become self-reliant in key sectors and attain strategic sovereignty.

Externally, global tensions have prompted China to focus on high-quality development, especially in key areas to achieve self-reliance, thus gaining strategic initiative.

From 2021 onwards, China has been implementing the 14th Five-Year Plan (2021-25) for Economic and Social Development and Long-Range Objectives through the Year 2035, which focuses on innovation-driven development.

Since 2021, China has been implementing the 14th Five Year Plan for National Economic and Social Development (the "14th Five Year Plan") and the Vision and Objectives Outline for 2035 with innovation driven development as the main line.

While the previous five-year plans built the base, the 14th Five-Year Plan has set eyes on new horizons, because it is the first five-year plan after China achieved the goal of building a moderately prosperous society in all respects, which is usually translated as a well-off society, by, among other things, eradicating extreme poverty by the end of 2020 and improving people's living standards.

The 13th Five Year Plan has laid the foundation, while the 14th Five Year Plan has opened a new journey, because it is the first five-year plan after China has achieved the goal of building a moderately prosperous society in all respects. By the end of 2020, China has eliminated absolute poverty and improved people's living standards.

China is aware of the importance of boosting domestic consumption, and has taken measures to that end in order to balance the domestic and foreign aspects of development.

China is aware of the importance of expanding domestic consumption and has taken corresponding measures to balance the development of all aspects at home and abroad.

China's high-level opening-up and mutually beneficial global cooperation are based on three factors: high-quality development of the new economy, high-quality development of the Belt and Road Initiative, and improvement of the global economic governance system.

China's high-level opening up and mutually beneficial global cooperation are based on three factors: high-quality development of the "new economy", high-quality co construction of the "Belt and Road" initiative and improvement of the global economic governance system.

Of course, higher-quality, innovation-driven development with new quality productive forces requires improvement in research and development. In fact, China has been trying to upgrade its R&D sector since 2020 when the Ministry of Science and Technology and the Ministry of Education advocated a new research assessment approach, which would make it possible to assess scientific work in a new way in order to enrich people's scientific spirit with creativity.

Of course, higher quality development driven by innovation and new quality productivity cannot be separated from the progress of scientific research and development. In fact, China has continued to improve its R&D level since 2020, and the Ministry of Science and Technology and the Ministry of Education have improved the science and technology evaluation system to encourage the scientific spirit of innovation.

High-quality papers published in journals are part of China's efforts to facilitate innovation-driven development, so as to create a bigger global impact. Also part of the high-quality development process are innovative research, technological breakthroughs, industrial upgrading and green transformation.

Encouraging the publication of high-level papers in journals to enhance international influence is one of China's initiatives to drive development through innovation. In addition, innovative research, technological breakthroughs, industrial upgrading and green transformation are also important components of high-quality development.

Also, China's contribution to global growth can be better understood by taking into consideration the global contributions of its initiatives such as the Belt and Road Initiative, which completed 10 years in 2023, as well as the Global Security Initiative, which aims to build a stable, peaceful world, and the Global Civilization Initiative, which promotes global cooperation and mutual respect.

To gain a deeper understanding of China's contribution to global growth, we can start with various initiatives put forward by China, such as the "Belt and Road" initiative, which will celebrate its 10th anniversary in 2023, the global security initiative aimed at building a stable and peaceful world, and the global civilization initiative to promote international cooperation and mutual respect.

As for the Global Development Initiative, it aims to promote healthier, greener development, and supports the United Nations' 2030 Agenda for Sustainable Development. These initiatives will have to overcome many challenges to achieve their goals but will emerge successful in the end.

There is also China's global development initiative to promote more healthy and green development, which supports the UN 2030 Agenda for Sustainable Development. These initiatives need to overcome challenges to achieve their goals, but will eventually succeed.

Source: China Daily

Editor: Chen Dawei

Senior Editor: Pang Bo