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At a recent press conference held by the State Council Information Office, Zheng Shanjie, the Director of the National Development and Reform Commission, summarized the current economic situation in China with two key words: "stable" and "progressive". The term "stable" is mainly reflected in the overall economy, while "progressive" is mainly reflected in structural optimization.

Combining a series of data, the author believes that China's economy is of high quality development, and is accumulating more "new" momentum. This is mainly reflected in the following aspects.

Firstly, the industrial structure is continuously optimized, and the innovation capability of the industry is continuously enhanced.

Taking the shipbuilding industry as an example, statistical data shows that in the first three quarters of this year, China has undertaken more than 70% of the world's green ship orders, and has achieved full coverage of mainstream ship types. Green, high value-added, and high-tech have become new highlights of China's shipbuilding industry.

The shipbuilding industry is a microcosm of the high-quality development of China's manufacturing industry. In recent years, the transformation and upgrading of China's manufacturing industry has been accelerating, and the industrial structure has gradually optimized, injecting strong momentum into the high-quality development of the economy and providing strong support for the promotion of Chinese-style modernization.

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At the same time, the innovation capability of various industries is continuously enhanced. We see that nowadays, scientific and technological innovation is permeating the entire process of the manufacturing industry, empowering the industry to develop towards high-end, intelligent, and green directions. According to data released by the National Bureau of Statistics, in the first eight months of this year, industries representing high-end, intelligent, and green, such as spacecraft and carrier rocket manufacturing, intelligent vehicle equipment manufacturing, and lithium-ion battery manufacturing, saw relatively fast profit growth, with year-on-year increases of 20.3%, 26.2%, and 29.9%, respectively; the collaborative effect of emerging key field industry chains is gradually emerging, with profits in industries such as semiconductor device special equipment manufacturing, sensitive element and sensor manufacturing, and optoelectronic device manufacturing increasing by 14.5%, 42.9%, and 130.6% year-on-year, respectively.

Secondly, high-tech manufacturing is moving towards the "new", showing strong potential and vitality.

Tax big data is regarded as one of the "barometers" for judging the operation of the economy, and indirect tax data such as value-added tax can better reflect the details in the operation of the economy. Data from the State Taxation Administration's value-added tax invoices show that in the first three quarters of this year, sales revenue in the high-tech industry increased by 11.6% year-on-year. Among them, high-tech service industry and high-tech manufacturing industry increased by 13.7% and 8.6% year-on-year, respectively, reflecting the continuous growth of innovative industries.

This can be corroborated by data released by the National Bureau of Statistics, which shows that in the first eight months of this year, profits in the high-tech manufacturing industry increased by 10.9% year-on-year, 10.4 percentage points higher than the average level of large-scale industrial enterprises, driving the growth of profits in large-scale industrial enterprises by 1.8 percentage points, with a significant supporting role.

Behind the eye-catching achievements is the high-tech manufacturing industry, which takes scientific and technological innovation as the core driving force, moves towards the "new", and has become a new growth point in China's economy.In conclusion, there are more new and powerful engines driving the high-quality development of the economy.

For instance, electricity data is often regarded as one of the "barometers" of economic operation, reflecting the new drivers and trends of economic activity through the growth of electricity consumption across various industries. According to data released by the National Energy Administration, from January to August of this year, the total electricity consumption by the whole society was 6,561.9 billion kilowatt-hours, a year-on-year increase of 7.9%. Looking at the data by industry, the electricity consumption of the primary, secondary, and tertiary sectors increased by 7%, 6.3%, and 11%, respectively.

The growth in electricity consumption reflects the positive trend of the national economy continuing to rebound and improve, which is inseparable from a series of new and powerful engines driving the high-quality development of the economy: key enterprises continue to expand their industrial scale, update and transform equipment, and accelerate the digital transformation and upgrading; new consumption growth points such as cultural and entertainment tourism and sports events continue to emerge, stimulating consumer potential; the cultivation and strengthening of the "three news" industries represented by new industries, new business forms, and new models are accelerating...

A series of data highlights the resilience and vitality of the Chinese economy. It is foreseeable that as more policy measures take effect, and more new drivers continue to exert their strength, the rebound and improvement trend of China's economy will continue to be enhanced.