关键词: 新质生产力, 金融发展, 工业革命

Abstract: The new quality productivity is an advanced form of productivity that meets the needs of high-quality development, and giving full play to the functions of finance is a major requirement for the development of new quality productivity. The historical experiences of the three industrial revolutions show that there is a mutually reinforcing relationship between finance, economic growth and productivity progress. On the one hand, finance can provide high-quality services to promote economic growth. Economic growth forms the driving force for productivity progress at the demand side; in return, productivity progress may bring improvements in economic quality and quantity at the supply side. On the other hand, finance can provide fund support for productivity progress through banks and capital markets, while productivity progress in turn can provide good returns for finance. At the same time, finance is a double-edged sword. Multiple financial crises in history have caused damage to productivity, indicating that strengthening financial regulation is a guarantee for promoting a virtuous cycle of finance, economic growth, and productivity progress. Therefore, the development of the new quality productivity in financial services not only needs to improve the quality and efficiency of financial services for the real economy, but also needs to improve financial regulation and maintain the bottom line of preventing systemic financial risks. To be specific, firstly, we need to build a financial system that places equal emphasis on banks and capital markets to provide high-quality financial services for the development of the new quality productivity. Secondly, we must improve the capital entry and exit mechanism and form a virtuous cycle of financial capital investment and the development of the new quality productivity. Finally, the“five major financial articles”must be completed to serve the advancement of the new quality productivity and implement the new development concepts.

Key words: new quality productivity, financial development, industrial revolution