China's county economies achieve remarkable progress in high-quality development: report

BEIJING, Nov. 22 (Xinhua) -- China's county economies have achieved remarkable progress in high-quality development, playing an increasingly prominent role in advancing Chinese modernization, a think tank report said.

The report, titled "New Era County Economics," was released on Friday by Xinhua Institute, a national-level think tank affiliated with Xinhua News Agency, at the Belt and Road Forum for International Think Tank Cooperation held in Nanjing, capital of east China's Jiangsu Province.

Seizing opportunities presented by the new round of technological revolution and industrial transformation, county-level regions have effectively invigorated their economies by upgrading traditional industries and innovatively developing new quality productive forces, the report said.

The crux of county-level economic development lies in cultivating and strengthening leading industries, the reported noted, emphasizing the importance of leveraging technological innovation to drive industrial innovation, particularly by harnessing disruptive and cutting-edge technologies to foster new industries, models, and growth drivers, thereby developing new quality productive forces.

The report also noted that in the current era, when economic globalization and regional economic integration are increasingly intertwined, county economies and open economies are no longer distant parallel tracks but are interwoven, collectively painting a dynamic picture of socioeconomic development.

Globalization is no longer exclusive to large cities. From industrial chains to digital trade, an increasing number of counties are integrating into global value chains through innovative policies and modern governance, the report said.