Huang Qifan: "During the 15th Five-Year Plan period, more attention will be paid to the development of productive service industry."

The 8th West Lake Conference with the theme of "Building a Strong Capital Engine to Empower New Productivity" was held in Hangzhou on May 21. Huang Qifan, academic advisor of China's Financial Forum 40, and former mayor of Chongqing, stated in his keynote speech that in the Chinese manufacturing system, new productivity accounts for approximately 20%, while the remaining 80% is formed from the development of the past few decades. It is necessary to carry out technological transformation and upgrades for the existing industrial system, and to explore the potential of traditional manufacturing industries with new productivity. Specifically, this includes implementing green and low-carbon transformations for traditional manufacturing industries, as well as digital transformations for traditional production manufacturing industries. It is expected that during the 13th Five-Year Plan period, the development of productive services industry will be placed on the important agenda.