AI, IoT, next-gen tech to drive future growth

As the year draws to a close, China has set its sights firmly on the future, with a roadmap laid out during the recently concluded annual Central Economic Work Conference. The focus is clear — scientific and technological innovation will be the cornerstone of the nation's economic strategy heading into 2025.

The goal is nothing short of transformative — to create new quality productive forces and overhaul China's industrial system, building a framework for a modernized, tech-driven economy.

As a journalist, I find it fascinating to see how the country is positioning itself at the forefront of the next industrial revolution.

With major technological projects and large-scale demonstrations of new technologies, China is laying the groundwork for fostering new quality productive forces. This initiative, which centers around emerging technologies such as artificial intelligence and the internet of things, promises to dramatically reshape industries across the board.

The government is keen to foster innovation in emerging sectors, nurturing the industries of the future while ensuring that China maintains its competitive edge in strategic technological areas.

Yu Hongjun, former vice-minister of the International Department of the Communist Party of China Central Committee, explained that China's push into digital infrastructure is already paying off.

Over the past few years, the country has made major strides in establishing a robust digital economy.

The widespread adoption of 5G and the development of 6G satellite communication systems have set the stage for what Yu calls a smart, connected economy.

He said during the World Internet of Things Convention held recently in Beijing that the rise of new IoT, new data and new business models are quietly but powerfully reshaping China's economic landscape. This is the bedrock of the new quality productive forces the country is betting on for long-term success.

As I dug deeper into the details, I realized the scale of what's unfolding here.

He Xuming, chairman of the World Internet of Things Convention Executive Committee, said the global digital economy, driven by IoT technologies, is growing at an annual rate of 20 percent. This year, global IoT connections are expected to increase by more than 23 percent to surpass 25 billion.

What's even more impressive is that China is leading the charge in IoT infrastructure construction and innovative development in the digital economy.

China is poised to build over 4.3 million 5G base stations this year, helping to connect over 3 billion IoT devices, said He, adding that the traditional digital economy in China is projected to reach an annual output value of over 70 trillion yuan ($9.59 trillion), growing at a rate of more than 20 percent. With nearly a million companies already operating in the IoT space, the groundwork for China to lead in new quality productive forces is well underway.

Perhaps the most intriguing aspect of this push is its potential to trigger the fourth industrial revolution. Wei Jianguo, former vice-minister of commerce, said the core of this revolution is the convergence of digital technologies with manufacturing processes. The digitalization of industry, Wei argues, will redefine global production systems, and China, with its advanced manufacturing supply chains and digital leadership, is uniquely positioned to spearhead this transformation.

Wei further emphasized that the fourth industrial revolution will not only drive economic growth, but also profoundly impact China's social structure, economic models, and the relationship between humans and nature.

As I reflect on these developments, it's clear that the shift toward new quality productive forces, driven by AI, IoT and other next-generation technologies, will inevitably position China as a global innovation powerhouse.

The government's proactive approach to fostering these changes is strategic, forward-thinking and deeply embedded in its broader economic goals for the next few years.

The story unfolding here isn't just about economic growth — it's about reshaping the very fabric of industry and society in ways we're only just beginning to comprehend.

As 2025 approaches, all eyes will be on China to see how it executes this ambitious plan and whether it can truly lead the world into the next industrial revolution.