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稳步提升全要素生产率 将成为经济持续增长的关键动力
Jing Ji Ri Bao·2025-11-10 23:35

Core Viewpoint - The 20th Central Committee's Fourth Plenary Session emphasizes the steady improvement of total factor productivity (TFP) as a key goal for the 14th Five-Year Plan period, reflecting the importance of TFP in enhancing economic quality and innovation capabilities [1][2]. Group 1: Importance of Total Factor Productivity - TFP is defined as the ratio of total output to the combined input of all factors, serving as a measure of productivity levels and economic development quality [1]. - The improvement of TFP is crucial for achieving sustainable economic growth, especially in the context of declining traditional growth drivers and increasing external uncertainties [3][4]. - The 20th National Congress report highlights the need for high-quality development and the acceleration of a modern economic system to enhance TFP [2]. Group 2: Challenges and Goals - The average annual growth rate of TFP in developed countries has been low, with the U.S. at approximately 0.7% and other industrialized nations below 1% over the past 20 years [1]. - To achieve modernization by 2035, China needs to increase TFP growth to around 2% annually, driven by technological advancements and improved resource allocation efficiency [3]. Group 3: Strategies for Improvement - The enhancement of TFP can counteract the decline in traditional factor inputs and provide sustainable growth sources [6]. - China has favorable conditions for improving TFP, including a significant manufacturing sector and opportunities for technological and model innovations [6]. - The integration of digitalization and green development can create new efficiency growth points and structural dividends [6]. Group 4: Innovation and Reform - Innovation is essential for TFP improvement, encompassing both technological advancements and the innovative allocation of production factors [7]. - Comprehensive reforms are necessary to eliminate barriers to the development of new productive forces, facilitating the efficient flow of quality factors across the market [7].