LIU Qing: Guiding the Legalized Business Environment for the Development of New Quality Productivity in an Open Economy

LIU Qing, deputy dean of the National Academy of Development and Strategy and professor at the School of Economics of Renmin University of China, published an article in The Paper. The main points are as follows:

Under the title “Guiding the Legalized Business Environment for the Development of New Quality Productivity in an Open Economy”, the author discusses the importance of developing new quality productivity in the context of an open economy. The article focuses on three aspects:

Firstly, it introduces the current situation and challenges faced by China’s open economy, emphasizing the importance of industrial upgrading in addressing these challenges. Secondly, it elaborates on the theoretical and practical implications of new quality productivity, emphasizing the leading role of innovation and the importance of quality. Thirdly, it emphasizes the need for strong institutional support for developing new quality productivity in an open economy and discusses this viewpoint from the following various perspectives.

It firstly emphasizes the importance of high-quality contract execution and intellectual property protection for the comparative advantage of high-tech industries. Secondly, it points out that a rule-of-law-based market system is a prerequisite for promoting competition and innovation, especially emphasizing the importance of intellectual property protection in the current context of expanding openness. Then, it emphasizes the importance of a rule-of-law-based market system for optimizing resource allocation and the hindrance of economic policy uncertainty to innovation. Furthermore, it calls for the formation and development of new quality productivity in an open economy under the construction of comprehensive governance by law and a legalized business environment, providing institutional support for realizing the dividends of new reform in the new era.

The entire article calls for the development of new quality productivity under the guidance of a legalized business environment and the construction of comprehensive governance by law, thereby leading the development process of an open economy.

(Translated by ZHANG Yuqing; Proofread by YANG Fanxin)