Liu Zhibiao, Ling Yonghui, and Sun Ruidong: New Pillar Industries: The Primary Platform and Policy Choice for Developing New Quality Productivity

Release time:2024-06-12Author: Liu Zhibiao, Ling Yonghui, and Sun Ruidong

Abstract: In the new period of accelerating the development of new quality productivity, the new pillar industry is the primary platform to build new advantages and new tracks of future industrial development. After calculation, this paper sorts out five major industrial tracks that can grow into new pillar industries during the 15th Five-Year Plan period in China, which are digital technology, health and life science, basic supportive industries including new materials, new energy and others, high-end equipment manufacturing industries, and modern productive service industries. To build the above new pillar industries, China has comparative advantages in terms of system, demand, supply and talent. However, we also face many risks and challenges, such as uncertainty of future technology, market segmentation that inhibits economies of scale, institutional rigidity that triggers production capacity bubbles, lack of innovation due to the short of top talent, and decoupling of the global industrial and supply chains. In order to build new pillar industries in China's new era based on the development of new quality productivity, it is necessary to focus on the five main directions, as well as their corresponding five key tasks, which are inward implementation of home-market globalization, wise promotion of industrial intelligence, green acceleration of industrial greening, high promotion of industrial high-end, and agglomerating strengthening of industrial cluster. More importantly, it is necessary to systematically deploy the policy initiatives from the industrial chain policy, market policy, scientific and technological policy, human resources policy, and investment and financing policy.