"New-quality productive forces" matches China's situation very well as the current world technological progress turnover and change are at a very high frequency according to Yin Xiaopeng, dean of Research Institute of Global Value Chains with University of International Business and Economics.

Yin said that there were many China-centered global value chains especially in East Asia, Southeast Asia, and Northeast Asia and those chains could extend to other regions as well.

"We could maximize or extend our international trade and investment, create more opportunities and value, and eventually will benefit China ourselves and the other side of our world," Yin added.

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