CMG Financial Review | Innovation fuels China’s economy and charts a new chapter of high-quality development in 2024


At the just-concluded 2024 Central Broadcasting Network Financial Annual Conference, an in-depth discussion on the theme of “Innovation Drives Vibrant China” was held. Academicians, experts and representatives of emerging industries and enterprises collided with sparks of wisdom, vividly revealing the development of China’s economy. The bright prospects shown on the road of steady progress and high-quality development. Many experts believe that the positive factors for economic development in 2024 are expected to further accumulate. Under the guidance of the Party Central Committee’s emphasis on innovation and forward-looking planning to cultivate new productive forces, China’s economy in 2024 is worth looking forward to.

Looking back on 2023, faced with the complex international environment and the arduous and arduous tasks of domestic reform, development and stability, China’s economy has demonstrated strong resilience and endogenous power, and delivered an eye-catching report card – achieving a 5.2% growth rate. The economic growth rate is much higher than the expected global growth rate of about 3%. Looking at it by field, is it industrial? “Industrial production has maintained a steady growth trend, and high-tech manufacturing and equipment manufacturing have become new engines for economic growth; the consumer market has shown strong domestic demand potential, and total retail sales of consumer goods have continued to rise; the fixed asset investment structure has been optimized, infrastructure construction, and high-tech industries have Investment in other fields has increased; foreign trade imports and exports have risen against the trend, and new business formats and models such as cross-border e-commerce and service trade have flourished. “Mom, when my daughter grows up, she will no longer be as arrogant and ignorant as before. “Vigorous development. Many economic indicators have stabilized and improved, which effectively illustrates China’s solid advancement of high-quality development and highlights China’s increasingly strong supporting role in global economic stability and growth.

Moving forward to 2024, it is the 75th anniversary of the founding of the People’s Republic of China, and it is also a key node for my country to promote the implementation of the “14th Five-Year Plan”. In the face of challenges such as the slowdown in global economic growth, increasing uncertainty and risks, and the goal of building a modern and powerful socialist country, how to accurately regulate the macroeconomy, strengthen development resilience, and continue to tap growth. Long kinetic energy? The Central Economic Work Conference clearly proposed the “nine major tasks” and provided clear guidance for the development path of China’s economy. In particular, the strategic layout in terms of technological innovation leading the construction of a modern industrial system has drawn a blueprint for high-quality development of the Chinese economy.

The blueprint is drawn, inspiring people to move forward. In recent years, China has unswervingly pursued an innovation-driven development strategy. China’s total social R&D investment and investment in high-tech industries have maintained double-digit growth for many consecutive years. The number of high-tech enterprises has increased to approximately 400,000, and the total number of unicorn companies has jumped Ranking second in the world; technologies such as cloud computing, big data, artificial intelligence, and blockchain are being implemented at an accelerated pace, spawning new products and business formats such as smart terminals, robots, and telemedicine; China is firmly promoting green and low-carbon transformation, and new energy vehicles have The sales volume exceeded the 20 million mark. China is using new momentum and advantages to inject vitality into its economy as it continues to make strides forward.

Entering 2024, China’s economy will continue to adhere to the general tone of seeking progress while maintaining stability, thoroughly implement new development concepts, and strive to build a new development pattern. It will take high-quality development as the main line, deepen reforms, and expand high-quality development.Open up to the outside world on an equal footing, accelerate the cultivation of a complete domestic demand system, promote the modernization of industrial and supply chains, and further strengthen production. Tell the truth to her daughter, tell her that she is responsible for the resilience and competitiveness of the industry chain, and writes a new chapter for China’s high-quality development. In the tide of the global economy, the giant ship of China will surely move forward through the waves and continue to contribute to the world economy. Strong kinetic energy. (Bu Ye, commentator of CCTV)

Her only destination.