STORY: New quality productive forces to inject momentum into Chinese economy: scholar
SHOOTING TIME: March 26, 2024
DATELINE: March 27, 2024
LENGTH: 00:02:59
LOCATION: BOAO, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of street views in China
2. SOUNDBITE 1 (English): CARL FEY, Professor of Strategy at BI Norwegian Business School, Visiting scholar at Boao Forum
3. SOUNDBITE 2 (English): CARL FEY, Professor of Strategy at BI Norwegian Business School, Visiting scholar at Boao Forum
4. SOUNDBITE 3 (English): CARL FEY, Professor of Strategy at BI Norwegian Business School, Visiting scholar at Boao Forum
5. various of Boao Forum for Asia

STORYLINE:

China will be able to meet its growth target this year despite some challenges given the smart policies the Chinese government has developed, said a scholar.

According to Carl Fey, Professor of Strategy at BI Norwegian Business School, China remains an attractive market for foreign investors.

SOUNDBITE 1 (English): CARL FEY, Professor of Strategy at BI Norwegian Business School, Visiting scholar at Boao Forum
"China is going to continue to be an important source of growth for the world. The Chinese government has set a goal to grow at 5 percent. I think it's going to meet that goal. They've developed some really smart policies.
I think the Chinese government has taken several initiatives to try to make it a more attractive place for foreign companies."

Making strides in new quality productive forces, featuring high-tech, high efficiency, and high quality, is high on China's agenda this year.

Fey says promoting new quality productive forces will inject momentum into the Chinese economy and drive innovation.

SOUNDBITE 2 (English): CARL FEY, Professor of Strategy at BI Norwegian Business School, Visiting scholar at Boao Forum
"New (quality) productive forces is about thinking what things can we do, what tools can we use to make sure that China is becoming the higher value-added innovator of the world.
Things like using AI, things like using the Internet of Things, things like focusing on what management practices can help companies to be more innovative are all important.
China is transforming from being the factory of the world to the innovator of the world and new (quality) productive forces is the secret that will help China to be able to do that successfully.
I think new (quality) productive forces will inject momentum into the Chinese economy, because it will drive innovation. And innovation is what one needs to add more value and be able to charge more money and thus facilitate the economy. So it's really critical."

Fey is in south China's Hainan Province to attend the ongoing Boao Forum for Asia Annual Conference 2024 scheduled for March 26-29.

He says the forum is an epitome of China's commitment and efforts in promoting global cooperation at a time when the world is more fragmented and divided.

SOUNDBITE 3 (English): CARL FEY, Professor of Strategy at BI Norwegian Business School, Visiting scholar at Boao Forum
"It's encouraging to see that the Chinese government is playing a larger role globally in trying to help not just China, but the world development as China becomes stronger economically. It's also been encouraging that China is trying to set a good example for other countries and work on important initiatives.
Collaboration is essential for these things to work well. That's why it's great that we have events like the Boao Forum, which encourage the exchange of views and hopefully lead into greater collaboration between countries and regions like Europe, the United States, and China."

Xinhua News Agency correspondents reporting from Boao, China.
(XHTV)