Chinese President Xi Jinping has stressed the importance of developing new productive forces and achieving highquality development. This is part of China's efforts to transition towards a more modern, serviceoriented economy that relies less on heavy industry and manufacturing.
Xi highlighted the role of innovation in this process, saying that it is necessary to "break through the constraints of traditional development models" and to foster new growth areas. He also emphasized the need to deepen reforms in all areas of the economy, including the financial system, to create a more favorable environment for innovation and entrepreneurship.
In terms of highquality development, Xi said that this should be reflected in improvements in the structure, efficiency, and sustainability of the economy. This includes reducing poverty, improving environmental protection, and promoting social equity and justice.
Xi's emphasis on these issues reflects the central role that economic development plays in China's overall strategy. By focusing on innovation and highquality development, China aims to achieve longterm economic growth that benefits all its citizens.
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