The analysis framework of the replacement of old growth drivers with new ones: First, the demand driver. During the low-income driver period, consumer demand is dominated by necessities. On the middle-income level, we have innovative demands for high-quality products and product differentiation.Second, the supply driver. The process of labor transfer from urban to rural areas has actually showed that the driver has become the demand for advanced labor. In this process, the factor intensity of senior labor will gradually increase, and the technological progress caused by this is a big difference compared with the old driver period.Third, geographic space. During the period of rapid development, industrial investment may be subject to regional competition based on administrative divisions, and then form industrial clusters. While during the period of high-quality development, the technological competition on which industrial innovation relies will generate knowledge exchange across administrative divisions, and the realization of innovation industrialization requires coordination between localities.Finally, the investment system. The investment system is formed during the period of rapid development, and the innovation system should be formed during the period of high-quality development.The policy implications of the replacement of old growth drivers with new ones: Solve the “middle income problem”.Improve the dual structure of occupations, double industrialization, and avoid unemployment growth in the process of productivity growth.Industrial system transformation and innovation system strengthening.Promote new sources of dynamic comparative advantages, and use domestic value chains to support independent and controllable global value chains.
