Developing the new productive forces by giving full play to advantages of supersize market: theoretical mechanism and practical path
Year: 2025
Type: article
Abstract: Purpose China has established a supersized market as a cornerstone of its long-term development strategy. To accelerate the cultivation of new quality productive forces (NQPFs) driven by innovation and digital transformation, it is essential to fully leverage the advantages of this large-scale market, thereby facilitating high-quality, sustainable economic growth. This paper investigates the synergistic interaction between market scale and technological innovation as a dual-wheel drive mechanism for developing NQPFs. It aims to propose a practical pathway and framework for its implementation. Design/methodology/approach This paper systematically examines the interactive relationship between market scale and technological innovation from theoretical, historical and practical perspectives. It subsequently analyzes the new characteristics of market scale and technological innovation and their interplay in the digital era, proposing a practical pathway to accelerate the development of NQPFs by leveraging the advantages of the supersized Chinese market. Findings The digital era has disrupted traditional national market protectionism and intensified the “winner-takes-all” dynamic in technological innovation competition. The mutually reinforcing relationship between market scale and technological innovation has become more profound. In response, China should prioritize targeted issues and implement comprehensive governance across three dimensions: technological breakthroughs, industrial transformation and factor allocation governance, thereby fully utilizing its supersized market advantage to accelerate the development of NQPFs. Originality/value This paper contributes by proposing a novel, tripartite governance framework, encompassing technological breakthroughs, industrial transformation and factor governance, to address specific challenges arising in the digital era. This framework provides a significant practical reference for China to leverage its supersized market advantage in accelerating the development of NQPFs through reform practices.
Source: China Political Economy
Authors: Lijun Jia, Yaozheng Li, Xiaoxuan Shao
Institution: Beijing Institute of Technology
Language: English
Domain: Social Sciences
Open Access status: diamond
Award: G4357705343
OpenAlex ID: W4416057965