To kick this 3rd series off, we are excited to talk to Prof. WANG Yong, Academic Deputy Dean of the Institute of New Structural Economics at Peking University (PKU) about the first of the six transitions – economic transition and industrial upgrading, or the transition from a largely agrarian to an industrialized society, increasingly driven by innovation.

What are the key success factors for China’s transition to successfully overcome the so-called „middle-income trap“? Why is the focus for Chinese policymakers so much on manufacturing today? How to ensure industrial upgrading in times of geopolitics and geoeconomic factors? How does China’s industrial policymaking differentiate by sectors, mature and emerging technologies and differing strategic goals? Is overcapacity unavoidable? And: what role does the new concept of “new-quality productive forces” (新质生产力) add to policymaking?

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