Structural reforms key priority area
Skyscrapers border a lush green landscape in Shenzhen's central business district. Structural reforms to boost technological innovation and drive industrial upgrading will be among the key priorities of China's policymakers to foster new quality productive forces and promote high-quality development over the next few years, said economists and entrepreneurs. Senior China researchers and analysts said they believe the metric of China's success will be total factor productivity with a highlighted focus on new quality productive forces and new technologies. He said that China needs to further reform the economic structure and scientific and technological systems to remove the bottlenecks impeding the development of new quality productive forces. Sun Xuegong, director-general of the department of policy study and consultation at the Chinese Academy of Macroeconomic Research, said,"We need to reform the scientific and technological system, education systems and talent systems to develop new quality productive forces and drive innovation."
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