Professor WANG Yuanfeng (iGCU Academic Committee Member; Professor and Director of theCenter of Carbon Neutral Technology and Strategy at Beijing Jiaotong University)spoke at the Symposium on Economics, themed “Analysis on Current China Macroeconomic Situation in the 2ndQuarter of 2024”.Read the full script in Chinese: https://finance.sina.com.cn/hy/hyjz/2024-07-22/doc-inceyhui4858318.shtml?cref=cj
Professor Wang emphasized that new quality productive forces are characterized by intelligence and greening, driven by cutting-edge technologies such as artificial intelligence (AI) and big data, and the renewable energy revolution. This powerful combination is shaping the future of technological and industrial transformation, paving the way for the “Fifth Industrial Revolution.”
According to Professor Wang, new quality productive forces will introduce novel production factors, including carbon dioxide and data. Carbon dioxide has become a critical element in the carbon-neutral economy, while data is increasingly essential in the digital economy. The establishment of the National Data Bureau is intended to facilitate the flow of data as a key production factor, driving economic growth.
Professor Wang also highlighted that new quality productive forces will bring about innovative production methods, with big data at the forefront of this transformation. Big data correlation analysis enables the discovery of knowledge that was previously inaccessible through traditional means, laying the foundation for AI development and further advancing technological innovation.
Additionally, the rise of new quality productive forces will spur the emergence of new industries, particularly in the field of productive services. Information technology has accelerated the integration of manufacturing and services, increasing the share of services within manufacturing and introducing new fields such as green services and digital services.
Prof. Wang stressed that systemic institutional reforms must be accelerated to support the development of new quality productive forces, while addressing societal challenges posed by technological populism. Technological advances such as autonomous driving and AI will have significant impacts on employment, necessitating the proactive design of institutional frameworks to ensure social stability and sustainable development. Prof. Wang reckoned that Environmental, Social, and Governance (ESG) standards will serve as a key tool for advancing reforms related to new quality productive forces. By implementing ESG standards, companies will undergo systemic changes that promote sustainable development and further integrate new quality productive forces into the broader economy.
Subscription
