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.
Factor-driven growth model a thing of the past
China’s economy is moving away from its old factor-driven growth model towards 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 hi-tech manufacturing and digital product manufacturing, contributed 47.9% of the growth in industrial output in the first half of 2026, up 12 percentage points from the full-year figure for 2025.
- China's economy is rapidly shifting from old growth drivers to new innovation-led growth models.
- New industries and business models reflect years of efforts in core technology breakthroughs and deeper tech-industrial integration.
- Innovation-driven development is now a key pillar for stable growth amid global challenges.
- Hi-tech manufacturing and digital product manufacturing contributed 47.9% of industrial output growth in the first half of 2026.
- This share marks a 12-percentage-point increase compared to the full-year figure for 2025.
