Rationale and Pathway for NewIndustrialization in the Context ofChinese Modernization

Huang Qunhui1, Li Fangfang2*

1 Institute of Economics, Chinese Academy of Social Sciences (IE-CASS), Beijing, China

2 School of Economics & Management, Beijing Forestry University (BFU) , Beijing, China

Abstract: The concepts of modernization and industrialization have different connotationsthat are specific to their historical backgrounds, and their theoretical innovation and developmentmay benefit from China’s experiences. Industrialization is the cornerstone of modernization, andholds the key to its success. China’s experiences in blazing a new trail of industrialization arechallenging the traditional Western theory of industrialization and deepening the connotationsof Chinese modernization. New industrialization is a key entry point for steering China’smodernization drive and theoretical innovations. This paper offers an overview of the theoryof Chinese modernization and its evolving trend along China’s socialist industrializationpath, as well as the rationale and pathway for new industrialization in the context ofChinese modernization. As our findings suggest, the new industrialization concept hastaken hold in every key aspect of Chinese modernization. When combined with the theory ofChinese modernization, the theoretical implications of new industrialization play a crucialrole in propelling Chinese modernization forward along a new journey in the new era.

Keywords: New industrialization, Chinese modernization, coordinated evolution,

JEL Classification Codes: O14

DOI: 10.19602/j.chinaeconomist.2024.07.01