LIN Chen: Leveraging the Advantages of Digital Economy to Develop New Quality Productivity in Capital

LIN Chen, Executive Dean of the National Academy of Development and Strategy at Renmin University of China, together with LV Yifei, Assistant Professor at the School of Applied Economics published an article titled “Leveraging the Advantages of the Digital Economy to Develop New Quality Productivity in the Capital”, in Beijing Daily, the main points are as follows:

During this year’s National People’s Congress, President Xi Jinping emphasized the importance of developing new quality productivity tailored to local conditions. As the political, cultural, international exchange, and technological innovation center of the nation, Beijing should leverage its strengths in education, science and technology talent, large market, green development, and regional coordination to form a new quality productivity pattern that aligns with its capital city status. Beijing boasts significant advantages in the scale of its service market, technological level, and industrial foundation, particularly in the strategic emerging industries such as artificial intelligence, new energy, and biopharmaceuticals.

The digital economy, through precise information matching, rational allocation of resources, and promoting the digitalization, networking, and intelligentization of the real economy, has become a powerful engine for the development of new quality productivity. To better leverage the role of the digital economy, Beijing needs to promote technological innovation and resource allocation through market mechanisms, improve the regulation of monopolistic behaviors, prevent unfair competition, and at the same time, enhance the mechanism for income distribution from resource participation, increase the proportion of labor remuneration, and drive the continuous development of new quality productivity. (Translated by ZHANG Yuqing; Proofread by YANG Fanxin)