Ever since its birth, the term “new quality productive forces” has attracted the attention of the world. One can’t help but wonder: What does China’s new quality productive forces mean for the rest of the world? Facts are the best answer.

“China really helped by reducing the cost of solar energy,” said Amin Nasser, Saudi Aramco Chief Executive, at the World Energy Congress, “because China has made these green products so affordable. They will help the West achieve its target of cutting carbon emissions to a net zero level by 2050.” At a time when the United States is busy hyping up China’s so-called overcapacity of green products, Nasser’s words reflect the rational and objective view of the international community. That is, the development of China’s new energy industry, a component of China’s new quality productive forces, should be welcome news as developed countries strive for their emission goals and many hope for a global energy transition.

New productive forces are supported by new technologies and new ideas. Not only will the major emitters benefit from China’s development of new quality productive forces, but the rest of the world can achieve a lot as China develops new productive forces and international technology cooperation can be promoted.

In Egypt, the China-aided EgyptSat-2 widely serves Egypt’s agriculture, afforestation, environmental disaster monitoring, urban construction and other related programs. In the United Arab Emirates, under the framework of the Belt and Road Initiative, Chinese companies, especially technologically innovative companies in the fields of smart cities, clean technology, advanced manufacturing and so on, have assisted greatly in the local development.

In 2023, there was a 30 percent increase in the exports of the Chinese “new trio,” namely electric vehicles, lithium-ion batteries and photovoltaic products, which in the long run will help the rest of the world elevate their productive force to a much higher level.

A manufacturing base of electric cars in Hefei, east China’s Anhui Province, October 11, 2023. /Xinhua

Statistics also prove that China’s new quality productive forces contribute to world economic growth. Bloomberg recently reported that with the supply of affordable and clean energy Chinese products, the hope of global energy transition is just around the corner. Currently, China produces 50 percent of the world’s wind power equipment and 80 percent of the world’s photovoltaic equipment.

From 2012 to 2021, China’s green trade increased by 146.3 percent, injecting a “green impetus” into global economic growth. From 2011 to 2020, the number of patent applications for environmental technology inventions in China accounted for some 60 percent of the world’s total, and China is also one of the most active countries in the deployment of environmental technology innovation.

It is worth mentioning that in the process of energy transition, technological breakthrough is the key. Many countries have encountered bottlenecks such as immature technologies and integration difficulties in the process of green development. With new quality productive forces, China is able to provide innovative solutions, hence promoting technological progress and industrial upgrading of the whole world.

In fact, to develop in a much greener way is a major reason for China to cultivate new quality productive forces which support cost-effective, low-carbon, and eco-friendly development, ensure happiness for people, and promote the healthy functioning of society and a sustainable future for the whole world.

With robust technological innovation and a complete industrial chain system, China’s new quality productive forces can make green products more popular and provide affordable solutions for the whole world. It will at the same time ease the inflationary pressure caused by the rising cost of traditional energy. Chinese electric cars, 20 to 30 percent cheaper than those made by European manufacturers according to McKinsey & Company, are cases in point.

China has helped other countries improve their capacities to cope with climate change through technical support, capacity building and financial assistance. Deep in the desert of Abu Dhabi, the world’s largest single solar power station was completed by China in 2023, helping the UAE eliminate 2.4 million tons of carbon emissions per year.

In green development, China is an important partner in Africa’s energy transformation. It has implemented hundreds of clean energy and green development projects to support African countries in making better use of solar energy, hydropower, wind energy and geothermal energy, keeping Africa on track to achieve its goal of green, low-carbon and high-quality development. This shows that new quality productive forces are sustainability-oriented and good for the future of mankind.

Just as the invention of the steam engine brought about industrial development and the internet helped connect the world, the new quality productive forces are what the world needs now to achieve a new kind of development featuring better quality, higher efficiency and more sustainability. A country committed to the improvement of its people’s well-being will always welcome the idea of new quality productive forces and never take products which could boost the forces of “overcapacity.”

Editor’s note: Xin Ping is a commentator on international affairs, writing regularly for Xinhua News, CGTN, Global Times, China Daily, etc. The article reflects the author’s views and not necessarily those of CGTN.

Source(s): CGTN