Published on: 2026-07-29
Source: People’s Republic of China — Translation
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Beijing, July 29 /Xinhua/ — The accelerated transition from old growth drivers to new ones has become one of the most characteristic features of China’s current economic development, an invited expert said during the latest episode of the multi-media discussion program “China Economic Roundtable,” organized by Xinhua News Agency.
“The rapid growth of new industries and new business models is not a fleeting stroke of luck. It is the result of many years of continuous efforts to achieve breakthroughs in key technologies in the most important areas, deepen the integration of technological and industrial innovations, as well as develop innovative entities,” noted Wang Guanhua, a representative of the National Bureau of Statistics (NBS) of China.
According to the official, China’s economy is moving away from the old growth model based on factors of production and transitioning to high-quality development focused on innovation. He added that new growth drivers have become a key pillar ensuring stable growth amid global instability.
New growth drivers, primarily high-tech manufacturing and digital product manufacturing, accounted for 47.9% of the industrial output growth in the first half of 2026, which is 12 percentage points higher than the figure for the entire year of 2025.
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