Rapid transition to new growth drivers now a hallmark of China’s economy: official
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The accelerated shift from old to new growth drivers has become one of the most defining features of China’s current economic performance, a guest speaker said during the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.
“The rapid growth of new industries and new business models is no fleeting windfall. It reflects years of sustained effort to achieve breakthroughs in core technologies in key fields, deepen the integration of technological and industrial innovation, and foster innovation entities,” said Wang Guanhua, an official with the National Bureau of Statistics.
China’s economy is moving away from its old factor-driven growth model toward innovation-led, high-quality development, Wang said, adding that new growth drivers have become a key pillar supporting stable growth amid global complexities.
New growth drivers, led by high-tech manufacturing and digital product manufacturing, contributed 47.9 percent of the growth in industrial output in the first half of 2026, up 12 percentage points from the full-year figure for 2025.
Reference Link:- https://english.news.cn/20260729/f8592bf48eec4a4cb23386ff33a9d804/c.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
