On April 5, 2024, in an exclusive interview with Senior Foreign Policy Writer Tom O'Connor from Newsweek, Chinese Ambassador to the United States Xie Feng pointed out that new quality productive forces will not only invigorate China's high-quality growth but also provide impetus for global sustainable development. 

Ambassador Xie said that “new quality productive forces” is a major concept put forward by President Xi Jinping. In brief, it refers to innovation-led, reform-driven advanced productive forces that will boost total factor productivity and promote high-quality development. This includes: Making traditional industries higher-end, smarter and greener. In fact, China's electric vehicles, lithium-ion batteries and photovoltaic products all thrive on transforming traditional sectors; Fostering new industries, such as biomanufacturing, commercial spaceflight, the low-altitude economy and life sciences. Last year, the total output value of China's biomedicine, artificial intelligence and nanotechnology applications exceeded $55 billion; Also, advancing the digital economy, integrating digital technology into the real economy, and building digital industry clusters. China's digital economy is projected to reach $15.7 trillion by 2027.

Ambassador Xie emphasized that an integral part of developing new quality productive forces is opening wider at a higher standard. In August 2023, China introduced 24 measures to attract foreign investment. Among them, 60 percent have been delivered. The number of items on the negative list for foreign investment has been slashed from 93 in 2017 to 31 and will be further cut down this year. In particular, all restrictions on foreign investment access to manufacturing will be lifted. In March, China released its first nationwide negative list for cross-border services trade. We will expand market access for digital products, telecommunications, healthcare and other areas, too.