Hey there, tech enthusiasts! 🚀 Did you hear about China's latest buzzword? It's all about \"new quality productive forces,\" and it's shaking things up in a major way! 🎉
In 2023, China introduced this fresh concept, highlighting a shift towards advanced productivity that's breaking free from the old-school growth modes. Think high-tech, high efficiency, and high quality – all in line with a new development philosophy. 🧠💡
According to the National Bureau of Statistics (NBS), China's game in science and tech innovation is stronger than ever! 💪 With research and development (R&D) expenditure soaring past 3.3 trillion yuan (about \$463.5 billion) in 2023 – that's an 8.1% jump from last year! 📈
This tech-savvy momentum isn't slowing down. Data shows that in the first three quarters of 2024, the value added from high-tech manufacturing outpaced other industrial enterprises. And get this – in October, the Index of Services Production (ISP) for info transmission, software, and IT services shot up by 10.2% year-on-year! 🤯 That's a whole 3.9 percentage points higher than the overall ISP.
China's digital economy? It's on fire! 🔥 From January to October, total retail sales hit a whopping 39.896 trillion yuan, up 3.5% year-on-year. But wait, there's more! Online retail sales made up 12.363 trillion yuan of that, marking an 8.8% increase! 🛍️📦
All this growth is setting the stage for China's high-quality development, and it's a big deal for anyone keeping an eye on global markets. So, whether you're a budding entrepreneur, a student of international trends, or just someone who loves to stay in the know, keep an eye on China – they're redefining what productivity means in the 21st century! 🌐✨
Reference(s):
Graphics: China unleashes vitality on new quality productive forces
cgtn.com
