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China favours economic development based on innovation and openness

This was stated by the Director of the National Development and Reform Commission

At the Development Forum in China, Zheng Shajie, Director of the National Development and Reform Commission, announced policies and measures to address these three aspects.

Firstly, the country aims to lead industrial innovation through science and technology innovation.

According to Zheng, the government will support "a number of major S&T projects, strengthen the status of enterprises as the main bodies of S&T innovation, and accelerate the transformation and upgrading of traditional industries."

On the other hand, China will create new growth engines such as bio-manufacturing, commercial aerospace, new materials and the low-altitude economy. This is reported by Prensa Latina, a partner of TV BRICS.

As part of institutional innovation, Beijing will implement measures to improve the market-oriented business environment and further promote green and low-carbon transformation.

In terms of high-level openness, Zheng shared the government's willingness to strengthen international cooperation in science and technology.

He emphasised the importance of building an "innovation ecology", deepening exchanges and personnel cooperation between China and foreign countries.

China has already promoted some of these measures during the "Two Sessions," the country's most important political event, which brings together delegates from the National People's Congress and the Chinese People's Political Consultative Conference.

The Asian giant is targeting an economic growth of around five per cent this year amid a challenging international scenario.

Photo: iStock

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