Professor Liu Qiao from Peking University Guanghua School of Management: "During the 14th Five-Year Plan period, China's total factor productivity is showing a steady upward trend."

On April 9th, Securities Times interviewed Professor Liu Qiao from the Guanghua School of Management at Peking University in the "People's Wealth Information Great View" column. Liu Qiao stated that total factor productivity is the core driving force of economic growth, with two main sources: efficiency improvement brought by technological revolution and progress, and growth potential released by optimizing resource allocation efficiency. Research and development investment is the core support of technological progress. According to calculations, during the "14th Five-Year Plan" period, China's total factor productivity is steadily increasing, which is a consensus reached by various calculations. The improvement of total factor productivity is essentially a direct embodiment of China's economic transformation from "scale-driven, investment-driven" to "innovation-driven, efficiency-driven".