National Development and Reform Commission: New Growth Drivers Such as the Intelligent Economy Contributed Over 40% to Economic Growth in the First Three Quarters

The National Development and Reform Commission held a press conference in October. Zuo Gang, Deputy Director-General of the General Office of the National Economic Bureau of the NDRC, stated that during the first three quarters, China's economy advanced against pressure, maintaining stability while progressing, shifting momentum toward new drivers, and optimizing its structure, demonstrating strong resilience and vitality. This performance can be summarized by three words: 'stable,' 'new,' and 'resilient.' 'Stable' refers to robust macroeconomic progress, primarily reflected in growth remaining within a reasonable range. 'New' signifies the accelerated development of new growth drivers with increasingly strong driving effects. In the first three quarters, new drivers such as high-end manufacturing, the intelligent economy, and modern services contributed over 40% to economic growth. Innovation drug external technology licensing reached approximately $130 billion in the first three quarters, nearing last year's full-year total. 'Resilient' indicates strengthened economic resilience, mainly manifested in effective security of grain and energy procurement chains, overcoming adverse effects such as frequent natural disasters. (Securities Times)