China's new quality productive forces push economic growth in 2024

China's efforts to foster new quality productive forces yielded significant high-quality economic growth in 2024, with its ranking of the Global Innovation Index jumping to the 11th in the world, according to a press conference held in Beijing on Friday.

The steady development of the new quality productive forces enhanced China's innovation capabilities, Kang Yi, director of the National Bureau of Statistics (NBS), told the press.

"In 2024, China ranked 11th in the Global Innovation Index, making it one of the fastest-improving economies in innovation over the past decade. Our R&D investment continues to grow, with spending intensity reaching 2.68 percent of the GDP in 2024, a 0.1 percentage point increase from the previous year, while funding for basic research increased by 10.5 percent, accounting for 6.91 percent of total R&D expenditure," Kang said.

The development of new quality productive forces also promoted the growth of emerging industries, such as high-end equipment and artificial intelligence, according to Kang.

"In 2024, the value-added output of high-tech manufacturing industries above designated size grew by 8.9 percent year-on-year, with aerospace and electronic and communication equipment manufacturing achieving double-digit growth," he said.

China's traditional industries also benefited from new quality productive forces, Kang added.

"China is accelerating technological transformation and equipment upgrades in industrial sectors, revitalizing traditional industries. In 2024, manufacturing technological transformation investment grew by 8 percent, outpacing overall investment growth. Key sectors like raw materials, chemical industries, and metallurgical processes are advancing steadily, with a focus on green and digital transformations," said the official.

Thanks to the development of new quality productive forces, the NBS head said, China saw further expansion of its digital economy and progress in its green development.

China's new quality productive forces push economic growth in 2024

China has delivered a significant batch of emergency humanitarian aid to Iran, consisting of 58 tonnes of urgently needed medical supplies, as Iran grapples with the consequences of the recent conflict with the United States and Israel.

The aid was formally handed over on Wednesday during a signing ceremony in Tehran between the Chinese Embassy in Iran and the Iranian Red Crescent Society. Chinese Ambassador to Iran Cong Peiwu and President of the Iranian Red Crescent Society Pir Hossein Kolivand attended the event.

Cong said that China has always been concerned about the Iranian people and will continue to work with the international community to promote the early restoration of peace and stability in the Middle East.

"This aid package, totaling 58 tonnes, consists entirely of medicines. The recent war launched by the United States and Israel has caused a major humanitarian disaster for Iran, and medicine is in urgent need. Through this assistance, we hope to demonstrate the deep friendship of the Chinese people toward the Iranian people and help them overcome these hardships as soon as possible," said Cong.

Kolivand expressed sincere gratitude to China for extending a helping hand during difficult times and for providing valuable support to Iran on various occasions.

"In addition to China's support for the Iranian government, China's humanitarian aid has also been delivered to Iran. This assistance reflects China's care and compassion for our country and people. We extend our heartfelt gratitude, with special appreciation for the delivery of nearly 60 tonnes of medicine from China," he said.

China provides emergency humanitarian aid to Iran