How to Achieve Effective Growth and Coordinated Development in the Economy

In the coming period, while increasing its investment in human capital, China should lead the overall upgrading of its industrial structure with forward-looking technological inputs and high-quality technological transformation. At this stage, on the basis of undertaking international technology transfer, certain enterprises with relative competitive advantages should all the more improve the security of Chinese enterprises in the global value chain through independent innovation. On the other hand, China should strive to enhance its professional service capabilities in financial markets, research and development design, and system integration, strengthen its financial services, technology supply and operation management functions, especially its ability to manage the global value chain, and increase its investment in key technologies in strategic emerging industries, in order to expect a breakthrough in core technology bottlenecks in key industrial sectors that are crucial to China’s future position in the international division of labor.