STORY: New quality productive forces reshaping China's economic landscape
SHOOTING TIME: Recent footage
DATELINE: July 12, 2024
LENGTH: 0:02:03
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. various of China
2. SOUNDBITE 1 (Chinese): WANG ZHAO, Chief Operating Officer of drone maker EHang
3. SOUNDBITE 2 (Chinese): SUN JICHANG, Institute of Oceanographic Instrumentation, Shandong Academy of Sciences
4. various of China

STORYLINE:

China has put developing new quality productive forces, featuring high-tech, high efficiency and high quality, on top of its agenda.

With innovation playing the leading role, new quality productive forces mean advanced productivity freed from traditional economic growth mode and productivity development paths. 

The low-altitude economy is viewed by many as a key strategic emerging industry.

According to the Civil Aviation Administration of China (CAAC), the market size of the low-altitude economy sector is expected to surge from over 500 billion yuan (70.3 billion U.S. dollars) in 2023 to 2 trillion yuan by 2030.

SOUNDBITE 1 (Chinese): WANG ZHAO, Chief Operating Officer of drone maker EHang 
"China plays a leading role in developing technologies in the electric vertical take-off and landing (eVTOL) aircraft sector. In the country's pursuit of high-quality development, eVTOL contributes to economic and technological development."

China has also been ramping up innovation in the marine industry, a new engine for economic growth.

Official data showed that China's marine economy accounted for about 8 percent of its GDP during the 14th Five-Year Plan period (2021-2025).

SOUNDBITE 2 (Chinese): SUN JICHANG, Institute of Oceanographic Instrumentation, Shandong Academy of Sciences
"Through our development in recent years, our equipment has caught up with the most advanced in the world."

By investing heavily in innovation, China has positioned itself as one of the global pioneers in areas such as new energy, artificial intelligence, and biotechnology.
   
China's production and sales of NEVs continued to maintain rapid growth in the first six months of 2024, both over 30 percent year on year, and the market share of NEVs in China reached 35.2 percent by the end of June, according to data from the China Association of Automobile Manufacturers.

In the same period, some 605,000 units of NEVs were exported, representing a year-on-year increase of 13.2 percent.

As the country becomes a hub for technological innovation, it will attract more foreign investment and foster international collaboration, a benefit to global progress and development.

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)