New Industrialization: Characteristics, System Development and Implementation Pathway

New industrialization in China, different from its past economic development pattern or patterns in developed nations, is the country’s theoretical innovation based on the positive and negative experiences of industrialization at home and worldwide. New industrialization has various novel characteristics, including new sources of efficiency, new factors of production, new organizational forms, and new constraints. In addition, it has certain particularities arising from modernization with Chinese characteristics. This article summarizes the characteristics of new industrialization from the perspectives of people-centered approach, quality-first concept, independent innovation, green low-carbon economics, digital-real integration, and open circulation. There are four systems for promoting new industrialization: A self-sustained scientific and technological system, a high-end advanced manufacturing system, a green low-carbon circular system, and a division of labor system with domestic and international circulation. The Chinese new industrialization proposes the pathway and policy measures considering the new global situation and the requirements of new goals of strengthening organization and leadership, reducing factor cost, accelerating independent technological innovation, smoothing domestic and international circulation, and optimizing competition environment.

Rationale and Pathway for New Industrialization in the Context of Chinese Modernization

The concepts of modernization and industrialization have different connotations that are specific to their historical backgrounds,and their theoretical innovation and development may benefit from China’s experiences.Industrialization is the cornerstone of modernization,and holds the key to its success.China’s experiences in blazing a new trail of industrialization are challenging the traditional Western theory of industrialization and deepening the connotations of Chinese modernization.New industrialization is a key entry point for steering China’s modernization drive and theoretical innovations.This paper offers an overview of the theory of Chinese modernization and its evolving trend along China’s socialist industrialization path,as well as the rationale and pathway for new industrialization in the context of Chinese modernization.As our findings suggest,the new industrialization concept has taken hold in every key aspect of Chinese modernization.When combined with the theory of Chinese modernization,the theoretical implications of new industrialization play a crucial role in propelling Chinese modernization forward along a new journey in the new era.

Measurement and Strategy Research on the Green Development Level for the New Energy Vehicle Industry in Chongqing City

This article takes 2016-2022 as the inspection period to construct an evaluation index system for the green development level of the new energy vehicle industry.The entropy method and comprehensive index are used to measure the green development level of the new energy vehicle industry in Chongqing,and compared with neighboring provinces such as Yunnan,Guizhou,and Sichuan.Policy recommendations are proposed to promote the development of the new energy vehicle industry in Chongqing City.

Research on the Mechanism and Strategy of Equity Investment Driving the Transformation of New Material Innovation Achievements

Under the wave of global technological revolution,the new materials industry is facing difficulties in innovation and transformation.Equity investment has become a key driving force due to its flexible mechanism,risk sharing,and deep participation.Based on introducing the current development status of China’s new materials industry,this article reveals the mechanism of equity investment in financial support,risk management,incentive constraints,and resource integration.The article proposes optimization strategies,such as building an information-sharing mechanism and a diversified investment fund system,to promote the high-quality development of the new materials industry driven by innovation and provide strategic guidance for policymakers,investors,and enterprises.

China’s Manufacturing amid New Industrialization in the 14th Five-Year Plan Period

Driven by a new round of technological and industrial revolution,China’s manufacturing industry is heading towards green,intelligent,service-based and customized development.In light of the new technological revolution and evolving industrial development model,we need to revise and breathe new life into the traditional industrialization theory.When assessing a country’s industrial development,we should use the level of industrial technology,instead of the proportion of primary,secondary and tertiary industries,as the key criterion.In addition,the level of modern industrial development should be determined according to the degree of digital,network-based,and smart features.The new industrialization theory should employ knowledge-intensive complex labor to replace simple labor as the labor factor input in the production function,and include data as a new factor of production in the analytical framework.We should also define natural resources and the environment and greenhouse gas emissions as hard constraints of the production function.In the comparison of smart,service-based and green development levels of China’s,the US’and Japan’s manufacturing sectors,our results suggest that China lags far behind developed countries in terms of the level of industrial development.During the 14th Five-Year Plan period,China’s manufacturing industry should shift from quantitative expansion to digital and smart innovations and applications,modernize the industrial system,promote industrial integration,and broaden its horizon from domestic regional planning to the global value chain.

700 GW: A New Start of Electric Power Industry

On December 4, 2007, unit 1of Taizhou Power Plant was put into operation, which became the symbolic unit of the installed capacity reaching 700 GW in China. On July 31, 2008, sponsored by the National Energy Administration and assisted by the China Electricity Council and the China Guodian Corporation, the "Conferring Ceremony for the 700 GW Symbolic Generating Unit of China" was held in the Great Hall of the People, Beijing. Zhang Guobao, vice chairman of the National Development and Reform Commission and Administrator of the newly established National Energy Administration attended the ceremony and delivered an important speech. Here published is an abridgment from the speech.

Research on the statistics index system and evaluation method of high and new technology industry development

During the evolution of the global economic, high and new technology industry has become the main driver to impel the global economy growth via technological advancement, and the main means to guarantee the sustainable development of the global economy. In the view of China’s situation, this article analyzes the experiences of OECD in high and new technology industry and gives a statistics index system along with the evaluation method to estimate the development of high and new technology industry.

Re-measuring Productivity, Energy and Environmental Factors of China＇s New Industrialization

This paper identifies low-carbon, energy-efficient, and green economic growth as the primary goals of China＇s new industrialization and defines productivity under new industrialization which; unlike conventional productivity, simultaneously satisfies these goals. In contrast to conventional methods for measuring productivity, this paper employs a non-radial, non-angular SBM directional distance function to estimate new industrialization productivity of industrial sectors across 30 Chinese provinces, municipalities and autonomous regions between 1998 and 2008. Our research shows that conventional measurements of productivity overestimate industrial growth in China＇s central and western regions. On the whole, prospects for growth performance of China＇s industrial sectors are not optimistic. The degree of new industrialization is higher in eastern region than in central and western regions, where balancing industrial growth with resources and the environment is a daunting task. This paper＇s conclusions support ＂environmental Kuznets curve＂ and ＂Porter hypothesis＂ but reject ＂pollution asylum hypothesis ＂.

The Capital Market in the Process of Taking a New Road of Industrialization

The page expounds the new situation in the process of taking a new road of industrialization, analyses the function of the capital market, discusses the measures of perfecting the capital market system, accelerating the capital formation and promoting the development of industrialization.

Domestic Welfare Industry Expects New Development

China has 85.02 million disabled people,and 39%of them have needs for rehabilitation technical aids,while only 7.31%of them have been equipped with such aids.According to data from the National Working Commission on Aging,the demands of Chinese pension services market are valued at more than RMB 3trillion,and will reach RMB 5 trillion by the year 2050.

Discount Rate of China’s New Energy Power Industry

Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.

New Energy Automobile is Drawing Industrial“Roadmap"

According to the White Paper on Development of 2016New Energy Automobile Electronic Industry released recently by the Electronic Science 8c Technology Intelligence Research Institute of Industry and Information Technology Ministry,China’s new energy automobile electronic industrial scale achieved nearly RMB 4.5 billion in 2015 and it is expected to reach RMB 23.7 billion by 2020 with

Laiwu——A New Emerging Industrial City in Shandong

Laiwu,a developingindustrial city in the middle eastof Shandong Province,is situatedat the eastern foot of Mount Taiand is known for its steel andcoal production.Covering an areaof 2,239 square kilometres,ithas two districts, Laicheng andGangcheng, and 30 towns underits jurisdiction with a populationtotalling 1.2 million.

A New Round of Global Industrial Restructuring

A new round of global industrial restructuring has been rapidly under way as eco-nomic globalization and revolutionary advances in information technology pickup momentum. Such strategic option geared to the digital economy in preparationfor the arrival of the knowledge economy will exert profound and far-reaching im-pact on the world economics and global competition in the new century. For this,the world major economies are making readjustments in their development strategies and working out new industrial policies in pursuit of commanding heights inthe world economic configuration or an invincible position in the 21st century.

New Basle Capital Agreement and Risk Management of China＇s Banking Industry

Adjustment of Basle Capital Agreement will influence the risk management and capital arrangement demand of the banks with different scales, operation level and environment. It will have widespread and profound effect on the competition strength of every country＇s banks in the global market. Starting with illustration of the present cond（tion of risk management in China＇s banks, the paper analyzes the major problems existing in the risk management system of China＇s banking industry, then puts forward some clues and suggestions to improve and better the risk management system of China＇s banking industry.

Development Plan of New and Renewable Energy Industry in China for Year 2000-2015

This paper presents the guidelines and basic ideas for working out the development plan of new and renewable energy based upon China’s conditions, the foundation of industrialization development, targets of development for year 2000-2015 and the main tasks of industrialization system construction.

NEW MEASURES for Developing Auto Industry

Information from the Department ofAutomobiles,the Ministry of Machine-building Industry,reveals that China willtake the following measures to realize thegoal of the auto industry becoming a pillarindustry of the national economy. --Promoting Conglomeration.Theindustrial structure will be optimized andreorganized.Under the guidance of theindustrial policy for the auto industry。

China＇s Industries in the Beginning of Its 12th Five-Year Plan Period

Complex international and domestic economic scenarios and the short cyclical nature of macroeconomic policies characterizes the beginning year of the 12th Five- Year Plan period, it reflects the difficult policy choices that arise among three major regulatory targets ,for growth, structure, and prices. In the transitional period of intertwined challenges, a spirit of commitment and dedication to real industries will allow China to occupy vantage points in world manufacturing and become an industrial power in the real sense. To a certain extent the beginning year of the 12th Five-Year Plan period （2011-2015）, while.fraught with challenges and pain, marks a departure from cutthroat competition to quality growth for Chinese enterprises and entrepreneurs. From 2012, China＇s industrial and market economic systems will both head towards more sophisticated stages of development. China ＂s industries will develop along environmentally sustainable, delicate, high-end, IT-based and service-oriented paths, while expediting the country＇s economic restructuring, industrial upgrade capabilities and its pursuit of innovative industrialization, and it will do so with strides more remarkable than ever before in its history.

Research on financial support of the new energy industry

As it is known to all, the new energy industry plays an important in the economic transformation and structure adjustment of our country. The government attaches great importance to the development of the new energy industry. Particularly for the developing countries, to achieve rapid development require a lot of capital. However, there are some problems with finance in the development of the new energy industry. Based on the analysis, this paper puts forward some countermeasures.