Fu Hua, president of Xinhua News Agency and chairman of the academic committee of Xinhua Institute, delivers a speech at the China-Europe Think Tank Forum and the Launch of the Report on New Quality Productive Forces in Brussels, Belgium, June 19, 2024. (Xinhua/Zhao Dingzhe)

Developing new quality productive forces will not only boost the development of the Chinese economy, but also promote the sharing of development dividends between China and other countries in the world, Fu said. 

A report on new quality productive forces was launched here Wednesday by Xinhua Institute, a high-end think tank of Xinhua News Agency.

"Empower China, Benefit the World -- an Analysis of the Theoretical Contribution and Value Orientation of New Quality Productive Forces" (Chinese and English editions) was launched at the China-Europe Think Tank Forum, which was co-hosted by Xinhua News Agency and the Europe-Asia Center.

In a speech delivered at the meeting, Fu Hua, president of Xinhua News Agency and chairman of the academic committee of Xinhua Institute, said that the concept of "new quality productive forces" creatively put forward by Chinese President Xi Jinping was based on his insightful observation of the world's sci-tech and economic trends.

Fu said that the concept contributes greatly to international economic theories, deepens understanding of the laws of productivity development, and further answers a series of major issues concerning the development of the Chinese economy in the new era.

Developing new quality productive forces will not only propel the great ship of the Chinese economy to ride the wind and waves, and sail far and wide, but will also promote sharing of development dividends between China and other countries in the world, and make win-win cooperation more fruitful, so as to help build a better world that features peaceful development and prosperity for all, Fu said.

A robot demonstrates Chinese calligraphy writing at an exhibition hall of JAKA Robotics in east China's Shanghai, May 24, 2024. (Xinhua/Gong Bing)

The report is the latest achievement of Xinhua Institute's research on this concept, Fu noted, adding that Xinhua News Agency will strengthen research and cooperation with think tanks from other countries and jointly provide suggestions and proposals on developing the world economy.

Fabrizio Hochschild, former under-secretary-general of the United Nations, said at the forum that the concept of new quality productive forces is beyond China's border.

Noting that China is the world's second-largest economy, the scale of its manufacturing industry ranks first in the world and it also leads in the green energy sector, he said that China developing new quality productive forces is critical not only to its economic development but also to promoting new round of sci-tech revolution and industrial revolution represented by artificial intelligence.

The report with five chapters focuses on Xi's important discourses on developing new quality productive forces. Based on in-depth investigation and research, it systematically elaborates on rich connotation, essential elements, practice pathways and scientific methodologies of the new quality productive forces.

This photo taken on May 10, 2024 shows an assembly workshop of Ruipu Saike Power Battery Co., Ltd in Liuzhou, south China's Guangxi Zhuang Autonomous Region. (Xinhua/Jin Haoyuan)

It presents ten cases from various fields, showcasing the live practices of new quality productive forces in China.

Over 100 representatives from political, think tank, media and business circles of China and Europe, as well as from international organizations, participated in the forum.