New Quality Productivity and Basic Economic Modal Transformation

Abstract

In the era of Chinese-style modernization under Xi Jinping’s leadership, the concept of “new quality productive forces” has been innovatively introduced, enriching Marxist theory on productive forces and promoting their Sinicization and modernization. This concept fosters high-quality development, profoundly impacting China’s economic and social fundamental modes.

This paper adopts labor productivity as its focal point and logical thread, briefly tracing the concept’s origin, its various expressions, and its evolutionary trajectory. It delves into the scientific connotations and contemporary significance of the “new quality productivity”, emphasizing its novel expressions and substantial qualitative leap, encompassing both material and spiritual productivity. Additionally, it scrutinizes the internal dynamics of this concept in relation to production modes, relations, operational mechanisms, and structural evolution, elucidating its pivotal role in driving high-quality development. Furthermore, it anticipates the transition from a traditional factor-driven economy to an innovative-led economic paradigm.

“New quality productivity”, amalgamating virtual and real elements, wisdom and innovation, represents a new form of productivity, fostering a novel economic model. It heralds a transformative shift towards intelligence and innovation-driven economic structures, propelling civilization and social advancement. In this era of profound change, the pursuit of resource allocation and material wealth is augmented by a focus on dual drivers, material and spiritual, and the value derived from wisdom. To adapt to these shifts, a revision of traditional theoretical frameworks, including conceptual changes and systematic reconstructions, is imperative.

This paper contributes marginally to existing literature in three facets: (1) articulating the concept of “virtual and real integration” in new qualitative productivity, merging science, technology, and humanities; (2) elucidating the correlation between new quality productivity, high-quality development, and the evolution of basic economic modes; (3) providing preliminary insights into the characteristics, composition, and operational principles of the new economic model.

Guided by Marxist political economy principles and the Communist Party of China’s people-centered governance philosophy, this paper aims to enhance China’s economic governance efficiency and advance national modernization. In the face of unprecedented complexity and uncertainty, the analysis presented herein indicates the emergence of a new economic paradigm rooted in the deep integration of scientific innovation and human wisdom. Consequently, it proposes policy implications to accelerate the development of new quality productivity, facilitating high-quality development and Chinese-style modernization.