New quality productive forces highlighted during China-EU think tank forum

The Xinhua Institute released a report on new quality productive forces and hosted the China-Europe Think Tank Forum on June 19.

Experts attending the forum said that China's initiative of the concept would inject new wisdom and impetus into the prosperity and development of both China and the world.

Jean De Ruyt, co-chair of the Europe-Asia Center, noted that China's rapid implementation of developing new quality productive forces has yielded significant results, urging Europe to keep pace with technological and industrial revolutions.

"We have to adapt to that, and it's certainly the right way to change our industry and economy," he said.

Highlighting EU's role as China's second-largest trading partner and a crucial source of foreign investment, De Ruyt emphasized the importance of dialogue and cooperation, particularly in the electric vehicle (EV) sector.

Fabrizio Hochschild, former under-secretary-general of the United Nations (UN), said the concept of new quality productive forces is a timely conceptual innovation, which is not only critical to China's economic development but also has an impact beyond China's border.

He described China's strategy sets as a progressive model that aligns with the UN's vision for digital technology, artificial intelligence (AI), and innovation.

He stressed that AI should serve as a tool for global peace and sustainable development rather than a source of inequality and tension, underscoring the necessity of China's leadership and international cooperation in this area.

According to the report, China has been a significant driver of global growth for years, contributing an average of 30 percent annually to global economic growth. China's accelerated formation of new quality productivity driven by technological innovation is expected to inject substantial momentum into global economic development.

The report also notes China's critical role in global green and low-carbon development, citing its efficient production and manufacturing systems for solar equipment, electric vehicles, and other technologies that have significantly reduced the cost of the world's green transition.

Violeta Bulc, former EU Commissioner for Transport and vice-chair of the Europe-Asia Center, said that developing new quality productive forces contributes to environmental sustainability and reduces dependency on finite natural resources.

Li Pengcheng, vice president of Chinese dairy giant Mengniu Group, stressed that the dairy industry should adopt innovation, digital intelligence, and green development as its three major engines to modernize the traditional sector with new quality.

Vice Chairman of the Belgian-Chinese Economic and Commercial Council Vincent De Saedeleer highlighted China's promotion of innovation across various fields, calling for more dialogue, exchange and cooperation between China and Europe to achieve global sustainable development.

In an exclusive interview with Xinhua before the China-Europe think tank forum, Erik Solheim, co-chair of the Europe-Asia Center and former UN under-secretary-general, said that China's exploration of developing new quality productivity will be significant progress for human society, injecting new momentum into achieving the UN Sustainable Development Goals.

He praised China's development of innovation-driven, new quality productive forces that align with new development concepts, urging other countries to learn from China's success in technological innovation and green development.

The five-chapter report, based on in-depth investigation and research, systematically elaborates on the concept of the new quality productive forces.

Over 100 representatives from political, think tank, media and business circles of China and Europe, as well as from international organizations, participated in the forum co-hosted by Xinhua News Agency and the Europe-Asia Center.