科技经济v.s.地产经济：有何不同？

Group 1: Economic Transition - The shift from real estate economy to technology economy involves significant changes in industrial structure, development models, and institutional reforms, impacting key macroeconomic variables such as production, inflation, employment, fiscal policy, and monetary policy[2]. - By 2025, the contribution of new quality productivity industries to total output has surpassed that of the real estate construction chain, indicating a need for macroeconomic research to focus more on new quality productivity[11]. - The traditional development model driven by urbanization and population growth is transitioning to one focused on stock optimization and quality improvement due to slowing urbanization[8]. Group 2: Industrial Structure and Macroeconomic Features - The industrial structure has shifted from a real estate and construction-centric model to one centered around new quality productivity, which includes emerging manufacturing and certain service sectors[12]. - New quality productivity industries are expected to have a greater impact on total output than the real estate construction chain by 2025, reflecting their higher efficiency and growth potential[20]. - The inflation impact from new quality productivity industries is weaker compared to upstream factors like commodities and real estate, indicating a limited ability to drive PPI increases[25]. Group 3: Employment and Development Models - The labor compensation in new quality productivity sectors is lower than in traditional industries, which may create pressure on income and employment, necessitating a focus on developing service consumption to mitigate these effects[31]. - The transition from a cost advantage to a quality advantage in the labor force is evident, as the number of highly educated graduates continues to rise, supporting productivity growth in manufacturing[41]. Group 4: Institutional Mechanisms and Macro Control - The macro control mechanisms need to adapt to support the technology economy, moving away from real estate dependency and enhancing the role of direct financing systems[54]. - The fiscal and tax systems must evolve to accommodate new business models and support emerging industries, with a focus on expanding local tax sources and creating a tax system that aligns with new economic realities[56].