Rapid transition to new growth drivers now hallmark of China's economy: official
Xinhua, August 04, 2026 Adjust font size:
The accelerated shift from old to new growth drivers has become one of the most defining features of China's current economic performance, a guest speaker said during the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.
"The rapid growth of new industries and new business models is no fleeting windfall. It reflects years of sustained effort to achieve breakthroughs in core technologies in key fields, deepen the integration of technological and industrial innovation, and foster innovation entities," said Wang Guanhua, an official with the National Bureau of Statistics.
China's economy is moving away from its old factor-driven growth model toward innovation-led, high-quality development, Wang said, adding that new growth drivers have become a key pillar supporting stable growth amid global complexities.
New growth drivers, led by high-tech manufacturing and digital product manufacturing, contributed 47.9 percent of the growth in industrial output in the first half of 2026, up 12 percentage points from the full-year figure for 2025. ■