How China's economy is transforming

The transformation and upgrading of China's economy: from quantitative growth to quality change, from resource-driven to technology-driven, and from traditional to emerging industries.

1. From Quantitative Growth to Quality Change

China's economy is transforming from the quantitative growth of the past to quality change. In the past, China's economy was mainly driven by investment and exports, but this growth model is no longer sustainable. Now, China's economy is shifting to new growth models such as innovation-driven, consumption-driven and service upgrading to improve the quality and efficiency of economic growth.

2. From resource-driven to technology-driven

China's economy is shifting from resource-driven to technology-driven in the past. In the past, China's economy relied mainly on the low cost of resources and labor, but this advantage has gradually disappeared. Now, China's economy is pushing for technological innovation, increasing the technological content and added value of enterprises in order to improve competitiveness and innovation.

3. Transformation from traditional industries to emerging industries

China's economy is transforming from traditional industries to emerging industries. In the past, China's economy has relied mainly on traditional industries such as manufacturing and heavy industry, but these industries have faced the challenge of transformation and upgrading. Now, China's economy is promoting the development of emerging industries, such as high-tech industries, service industries, and cultural and creative industries, in order to improve the quality and efficiency of its industrial structure.

Quality development of China's economy

1. Improvement in the quality of growth: China's economy is realizing an improvement in the quality of growth. This is mainly manifested in the adjustment of economic structure, consumption upgrading and innovation driving. For example, the Chinese economy is transforming from manufacturing to services, from exports to domestic demand, and from low value-added to high value-added.

Meanwhile, the Chinese economy is promoting consumption upgrading and improving consumption quality and experience. In addition, the Chinese economy is vigorously promoting technological innovation and entrepreneurial innovation to improve the technological content and added value of enterprises.

2. Improvement of development quality: China's economy is realizing the improvement of development quality. This is mainly manifested in the construction of ecological civilization, social equity and sustainable development. For example, the Chinese economy is emphasizing ecological environmental protection, promoting green and low-carbon development, and strengthening ecosystem protection and restoration.

Meanwhile, China's economy is also promoting social equity, strengthening livelihood protection and social welfare, and improving people's living standards. In addition, China's economy is promoting sustainable development and the coordinated development of economy, society and environment.

3. Stabilization of growth rate: China's economy is achieving stabilization of its growth rate. With the restructuring of the economy and the improvement of the quality of development, the growth rate of the Chinese economy is gradually stabilizing. At the same time, the Chinese economy is strengthening risk prevention, avoiding over-reliance on unsustainable development methods such as investment and debt, and maintaining the stability and sustainability of economic growth.