Economy

Economic powerhouse anchors new quality productivity and launches major projects

2026-03-19   

A major economic province is the "ballast stone" that stabilizes the foundation of China's economy and the "locomotive" that drives economic growth. By 2025, ten provinces including Guangdong, Jiangsu, Shandong, Zhejiang, Sichuan, Henan, Hubei, Fujian, Shanghai, and Hunan will contribute 62.2% to the national economic growth. A stable development base and strong ability to withstand external shocks are necessary for a major economic province to support the stability of the national economy. After the closing of this year's National People's Congress and Chinese People's Political Consultative Conference, several major economic provinces held meetings to clarify their development paths and refine implementation measures based on their own realities, demonstrating their responsibility to shoulder the burden, be pioneers, and set an example. Zhu Keli, the founding director of the National Research Institute for New Economy, stated that the direction of promoting high-quality development in major economic provinces is clearer, and overall presents distinct characteristics of pragmatism, precision, and collaboration. The focus of our efforts is closely around new quality productivity, closely integrating technological innovation with industrial upgrading, and driving the modernization of the industrial system through technological breakthroughs. According to Tian Lihui, a finance professor at Nankai University, based on the announced content, the focus of work in major economic provinces is characterized by expanding domestic demand and exploring new industries. Specifically, in terms of increasing investment and project promotion, Guangdong has proposed to coordinate and implement the "15th Five Year Plan", accelerate the transformation of strategic goals and tasks determined in the plan into policy measures and engineering projects, and promote the formation of more physical workloads; Zhejiang proposes to fully promote the "Thousand Trillion" major projects and further leverage the role of industrial "ballast stone"; Fujian proposes to strengthen project linkage, take higher positions, greater efforts, and more practical measures to carry out project work, promote the implementation and construction of established projects, plan and generate new projects, stimulate private investment momentum, and enhance momentum through strengthened support. In terms of laying out new quality productivity and industrial innovation, Sichuan proposes to vigorously develop new quality productivity, adhere to leading industrial innovation with technological innovation, follow up and implement the national new round of key industrial chain high-quality development actions and industrial innovation projects, strengthen the full life cycle industrial fund investment system, coordinate the transformation and upgrading of traditional industries and the cultivation and growth of strategic emerging industries and future industries; Shandong proposes to further strengthen the development of new quality productive forces according to local conditions, promote the deep integration of scientific and technological innovation and industrial innovation, optimize and enhance traditional industries, cultivate and strengthen emerging industries, and plan ahead for future industries, continuously shaping new advantages for industrial development; Hubei proposes to seize the opportunities of the new round of technological revolution and industrial transformation, accelerate the deep integration of scientific and technological innovation and industrial innovation. Tian Lihui stated that overall, major economic provinces are taking the lead in integrating technological and industrial innovation. Whether it is the "data acquisition" mechanism in Zhejiang or the low altitude cross-border cooperation between Guangdong, Hong Kong, and Macao, these pioneering explorations will provide replicable experiences for the whole country. At present, major economic provinces seize the commanding heights of science and technology, providing a solid regional support for the grand blueprint of Chinese path to modernization. Zhu Keli believes that economic provinces should focus more on their comparative advantages, avoid homogeneous competition, and enhance economic resilience through characteristic, high-end, and green transformation. This not only stabilizes their own development foundation, but also provides solid support for the overall national situation. From the perspective of economic operation, economically large provinces have a large scale, complete industries, and strong resilience, which can effectively hedge external uncertainties and provide stabilizers and ballast for the national economic recovery and improvement; From the perspective of development momentum, economically major provinces focus on technological innovation and new quality productivity, which can drive the upgrading of the national industrial structure and the transformation of momentum; From the perspective of regional coordination, major economic provinces actively serve national strategies and promote regional coordinated development to a higher level. (New Society)

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Securities Daily

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