The Third Plenary Session of the 20th Central Committee of the CPC has approved the Decision on Further Comprehensively Deepening Reform and Promoting Chinese Path to Modernization. The Decision proposes to improve the mechanism for developing new quality productivity according to local conditions. Accelerating the formation of a new type of industrial policy system is one of the important contents and measures to achieve this requirement and form a new type of production relationship. It is also an inevitable requirement to achieve high-quality development and promote Chinese path to modernization.
Firstly, the support position of industrial policy should be moved forward, with a focus on supporting technological innovation links at the front end of the industrial chain, reducing support for simple capacity expansion links at the back end of the industrial chain. Secondly, the dominant position of industrial policy should be shifted from local government-dominated type to central government-dominated type, creating conditions for the construction of a unified national market. Thirdly, the implementation methods of industrial policy need to shift from selecting winners and losers to comprehensively strengthening the industrial chain, so as to support the construction of a modern industrial system.
