New Productive Forces Boosting High-Quality Development: A Theoretical Analysis from the Perspective of Fiscal and Tax Policies

Abstract

One of the main issues discussed during China's "Two Sessions" is how to utilize new productive forces to drive high-quality development. Since enhancing new productive forces inherently involves improving total factor productivity, this paper analyzes from the perspective of fiscal and tax policies, discussing how total factor productivity can boost high-quality development. The theoretical logic of fiscal and tax policies driving new productive forces is mainly reflected in promoting the efficiency of capital allocation and corporate innovation. Through structural reforms of fiscal and tax policies, it promotes the benign development of capital allocation efficiency and technological innovation. In terms of policy tools, targeting digitalization and intelligence, tax incentives are used to encourage corporate technological innovation and achieve industrial intelligence. At the same time, fiscal subsidies are used to enhance the ability of enterprises to transform scientific and technological achievements, promoting the rapid development of new industries and new models. Therefore, the future focus of fiscal and tax policies will be on promoting the integration of innovation chains and industrial chains, driving the development of new industries and new models, and providing a strong policy and material foundation for new productive forces to boost high-quality development.