Contemporary Finance & Economics ›› 2025, Vol. 0 ›› Issue (5): 44-57.

• Public Economics & Administration • Previous Articles     Next Articles

The Logical Rationale, Risk Challenges, and Breakthrough Pathways of New Quality Productive Forces Driving Government Function Transformation

Li Meng   

  1. Xiangtan University, Xiangtan 411105, China
  • Received:2024-07-31 Revised:2025-04-06 Online:2025-05-15 Published:2025-05-19

Abstract: The transformation of government functions is an important element of deepening economic system reform, and the Third Plenary Session of the 20th Central Committee of the Communist Party of China has explicitly called for the improvement of the institutional mechanism for the development of new quality productive forces in accordance with local conditions and the further deepening of reforms in a comprehensive manner around the promotion of Chinese-style modernization. The new quality productive forces have expanded the cognitive and practical fields of government function transformation, and it is possible to understand how the new quality productive forces drive the transformation of government functions from the theoretical logic of the Marxist theory of productive forces determining the relations of production, the historical logic of the modernization of the national governance system and the governance capacity, and the value logic of the people-centred development ideology. In terms of the transformation of government functions, the formation of new quality productive forces is a complex systematic project, currently facing the risks and challenges such as the blurred boundaries of modern industrial systems challenging the scientific level of industrial policies, the regulatory dilemmas arising from disruptive technological innovation activities in emerging fields, and the crowding out effect of new factor substitution reducing satisfaction with government public services. In view of this, the transformation of government functions driven by the new quality productive forces should take the scientific industrial policy as an effective means to promote the optimization of the allocation of government resources, strengthen the regulatory innovation in emerging fields to cultivate and develop the data factor markets, improve the relevant supporting relief measures to build an ecosystem of data security, and deepen the coupling and synergies of the pluralistic main bodies to promote the construction of a community of human destiny.

Key words: new quality productive forces, transformation of government functions, national governance, digital economy, common wealth

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