New Industrialization: Characteristics,System Development andImplementation Pathway

Research Group of the Institute of Industrial Economics,Chinese Academy of Social Sciences (CASS),Beijing, China

Abstract: New industrialization in China, different from its past economic developmentpattern or patterns in developed nations, is the country’s theoretical innovation based onthe positive and negative experiences of industrialization at home and worldwide. Newindustrialization has various novel characteristics, including new sources of efficiency,new factors of production, new organizational forms, and new constraints. In addition,it has certain particularities arising from modernization with Chinese characteristics.This article summarizes the characteristics of new industrialization from the perspectivesof people-centered approach, quality-first concept, independent innovation, green lowcarboneconomics, digital-real integration, and open circulation. There are four systemsfor promoting new industrialization: A self-sustained scientific and technological system,a high-end advanced manufacturing system, a green low-carbon circular system, and adivision of labor system with domestic and international circulation. The Chinese newindustrialization proposes the pathway and policy measures considering the new globalsituation and the requirements of new goals of strengthening organization and leadership,reducing factor cost, accelerating independent technological innovation, smoothingdomestic and international circulation, and optimizing competition environment.

Keywords: New industrialization, Chinese modernization, system building, policy measures

JEL Classification Code: O1

DOI: 10.19602/j.chinaeconomist.2024.01.01