STORY: China unleashes new quality productive forces in push for reform, innovation
SHOOTING TIME: recent footage
DATELINE: June 21, 2024
LENGTH: 00:02:38
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. various of China
2. SOUNDBITE 1 (English): MICHAEL SCHUMANN, Chairman of the Board of the German Federal Association for Economic Development and Foreign Trade
3. SOUNDBITE 2 (English): ENES ALISKOVIC, Bosnia and Herzegovina Export Promotion Agency
4. SOUNDBITE 3 (English): CAVINCE ADHERE, International relations specialist with focus on China-Africa relations
5. various of China

STORYLINE:

In China's pursuit of high-quality development, the term "new quality productive forces" is grabbing the spotlight, highlighting the direction for the transformation and upgrading of the world's second-largest economy.

First introduced in 2023, new quality productive forces refer to advanced productivity freed from traditional economic growth modes and productivity development paths. It features high technology, high efficiency and high quality, and is in line with the new development philosophy.

Observers around the world believe China's initiative of the concept will inject new wisdom and impetus into the prosperity and development of both China and the world.

SOUNDBITE 1 (English): MICHAEL SCHUMANN, Chairman of the Board of the German Federal Association for Economic Development and Foreign Trade
"The concept of the new (quality) productive forces for high-quality development that has been coined in China is a concept that we look at and study in detail because it's very interesting to see how it's being applied in China.
(With) the upcoming artificial intelligence and digital infrastructure that we have at hand, the core political task and question is how to utilize these new (quality) productive forces to make people's lives better."

SOUNDBITE 2 (English): ENES ALISKOVIC, Bosnia and Herzegovina Export Promotion Agency
"We understood it (as) to make products with higher quality or value-added products. That is very reasonable for China's further progress and the growth. We are welcoming this progress and such products.
I believe that we could find a way to have the win-win situation for the Chinese and also for the European markets here." 

SOUNDBITE 3 (English): CAVINCE ADHERE, International relations specialist with focus on China-Africa relations
"I think when Chinese technology is refined, when China engages in high-level innovation, it benefits the world. What is manufactured in China finds its way elsewhere, but China has also become a very strong partner in terms of capacity building for other countries.
So I think that the Chinese idea of pushing forward the frontiers of innovation with especially the idea of new (quality) productive forces is something that is not just going to be beneficial to China but also beneficial to the world."

China is accelerating the development of new quality productive forces that are featured by innovation.

The country's overall strength in science and technology innovation has steadily improved in recent years. Its research and development (R&D) expenditure exceeded 3.3 trillion yuan (about 455 billion U.S. dollars) in 2023, an increase of 8.1 percent year on year.

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)