Fostering New Quality Productive Forcesfor Sound Development of IndustrialTransformation Demonstration Areas

Li Zhibin1, Zhou Lin*2, Gu Hengyu3

1 Department of Economics Teaching and Research, Party School of the Central Committee of C.P.C (National Academy of

Governance), Beijing, China

2 School of Public Administration and Policy, Renmin University of China, Beijing, China

3 School of Geography and Ocean Science, Nanjing University, Nanjing, China

Abstract: Demonstration areas for industrial transformation and upgrading mustembrace high-quality development in order to accomplish socialist modernization togetherwith the rest of the country by 2035. Currently, new quality productive forces are emergingas driving forces for fostering endogenous dynamism for development. In this context, itis of practical relevance to discuss the theoretical rationale and pathway for new qualityproductive forces to support the high-quality development of the demonstration areas. Froma theoretical point of view, the demonstration areas may foster new quality productiveforces by nurturing market entities that contribute to endogenous dynamism, developingsupporting systems, and upgrading industrial structure to lead the development path.Considering the current challenges, we suggest that the demonstration areas carry outreforms to strengthen institutional foundation and unleash endogenous dynamism fortransformation and upgrading, encourage industrial evolution and specialization, andimplement urban development according to local conditions, so as to expedite the formationof new quality productive forces and embrace high-quality development.

Keywords: Demonstration areas for industrial transformation and upgrading, new

JEL Classification Code: O18, P21

DOI: 10.19602/j.chinaeconomist.2024.03.04