Recently, Lin Yifu, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and dean of the Institute of New Structural Economics at Peking University, said in an interview that to achieve high-quality development and promote economic restructuring and industrial transformation, we must seize the advantages of latecomers and the advantages of changing lanes.
Justin Yifu Lin said that to achieve high-quality development, we must continue to innovate and adjust the industrial technology structure. In this process, we must follow the comparative advantages to innovate.
He believes that China has advantages in two areas. One is the current income level, which is very close to the threshold of high-income countries, but there is still a considerable gap compared with high-income countries such as the United States and Germany. A gap means that it is catching up. These industries that are catching up have the advantage of latecomers, and there are still many opportunities for introduction, digestion, absorption and re-innovation. Such innovation costs are relatively low and the risks are relatively small.
When talking about the new economy, Justin Lin said that China has the most complete industries in the world, so in the new economy, China has the advantage of changing lanes and overtaking. Over the past few years, China has been ranked first in the world in the unicorn (enterprise) market.
Therefore, in promoting technological innovation, industrial upgrading, and structural transformation, we must make good use of these two advantages, one is the advantage of latecomers, and the other is the advantage of changing lanes and overtaking.
If we can make good use of these two advantages and promote innovation according to our comparative advantages, we can achieve high-quality development by taking into account coordination, greenness, openness, and sharing.
(made by Sui Zhiyuan)
Responsible editor: [Cheng Chunyu]