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New productive buzzwords

China’s leadership is increasingly talking about “New Productive Forces” as the key to the country’s future economic success – harnessing them was the first Major Task for 2024 in the government Work Report that was presented to the NPC this week. But the government hasn’t explained how this will be done and what changes of approach will be needed after more than a decade of failure to reduce the economy’s dependence on property and infrastructure construction. 

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