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The integration of the digital economy and the real economy has been a key focus in promoting digital economic development. It denotes a comprehensive digital transformation of national economic activities regarding technological infrastructure and production modes, which is crucial for establishing a modern economic system, advancing industrial infrastructure and modernizing industrial chains.

Firstly, the study delves into the internal logic behind the emergence of the new development dynamic resulting from digital technology's evolution. Secondly, it explores the mechanism of mutual promotion and support between the new development dynamic and the digital economy based on China's shift in focus from international engagement to the domestic economy during different stages of industrialization. Subsequently, it analyzes the characteristics and critical factors of digital economy development and examines the macro-, meso- and micro-level constraints on these factors. Finally, the paper explores approaches to promoting digital economy development while constructing the new development dynamic and provides relevant policy suggestions.

The construction of the new development dynamic and the development of the digital economy are inextricably linked, and only by mutually reinforcing each other can they provide an inexhaustible impetus for China's high-quality economic development.

The new development dynamic and the digital economy development form an indivisible whole. The new development dynamic creates the necessary conditions for digital economy development and promotes the formation of digital production modes. In turn, the development of the digital economy should strive to improve the mainstay position of the domestic economy, enhance the synergy between the domestic economy and international engagement, upgrade value chains while improving the supply and the industrial chains in China and ensure a parallel increase in labor income alongside improved productivity.

Although the tasks of managing carbon peaks and achieving carbon neutrality in China are arduous, they are also of great significance, which highlights China’s determination and courage in dealing with climate change. The power industry is not only a major source of carbon emissions but also an important area for carbon emission reduction. Thus, against the backdrop of carbon neutrality, understanding the development status of China’s power industry guided by the carbon neutrality background is important because it largely determines the completeness of China’s carbon reduction promises to the world. This study aims to review China’s achievements in carbon reduction in the electric industry, its causes and future policy highlights.

The methods used in this study include descriptive analyses based on official statistics, government documents and reports.

The research results show that, after years of development, the power industry has achieved positive results in low-carbon provisions and in the electrification of consumption, and carbon emission intensity has continued to decline. Policy initiatives play a key role in this process, including, but not limited to, technology innovations, low-carbon power replacement and supported policies for low-carbon transformation toward low-carbon economies.

This study provides a full picture of China’s power industry against the backdrop of low-carbon development, which could be used as a benchmark for other countries engaging in the same processes. Moreover, a careful review of China’s development status may offer profound implications for policymaking both for China and for other governments across the globe.

China’s economic development in the past 40 years has an array of distinctive features that have attracted the attention of the world. The paper aims to discuss this issue.

The analysis logic is as follows: with regard to the mechanism, the above factors were met in a timely manner and jointly contributed positive energy to China’s economic growth, with the increase in the savings rate as the necessary condition and foundation, and the increase in the savings rate is attributed to the explosive expansion of the financial system at the beginning of reform and the formation of positive incentives for residents, enterprises and governments at all levels, and the expansion of the financial system and the formation of positive incentives are clearly the crystallization of the wisdom of Chinese-style progressive reform.

Therefore, we have every reason to believe that the growth prospects of the Chinese economy remain bright. The author is nonetheless confident that the new two-step strategy for economic development will be realized, proposed by the 19th CPC National Congress.

Moreover, the growth of China’s economy has long been accompanied by the “double surplus” of current accounts and capital and financial accounts in the international balance of payments, which is not completely consistent with the traditional paradigm of development economics. These phenomena are so unique that the international community calls it the “Mystery of China” or “China’s Development Path.”