On October 31st, the eighth lecture of "The 70th Anniversary of the Founding of The PRC" series which hosted by Chongyang Institute for Financial Studies of Renmin University of China (RDCY) and Huanqiu Web, was held at RDCY.

Jia Jinjing, the assistant to the Dean of RDCY and director of the Marco Research Department, delivered a keynote speech on "The development of productive forces in 70 years". The lecture was hosted by He Si, the director of the Office of RDCY. More than 100 guests attended the lecture.

Modernization originated from the industrial revolution which creates road for the development of modernization. What has happened in the world since modern times could be summarized as modernization. Since 1840, the aim of China is modernization. From Communique of the Third Plenary Session of the 19th Central Committee, it is clear that China and world will take modernization as the main mission to promote especially in the aspect of state governance. Jia Jinjing mentioned that innovation vigorously pushes forward industrialization and shall be put in the central position for the construction of modernization in China.

As Jia pointed out, the first step in modernization is based on standardization. Before standardization, it was the era of human handicrafts which was actually human labor. Basically, the relation between labor and production is one to one which briefly is 1+1=2. With the improvement of efficiency, standardization would evolve into large-scale product in which the relationship between labor and product can be called as 1+1 >3. After the World War 2, system engineering whose essence is digital became the driving force for the universal development of the world. But when countless data have been added into your digital system and been stored as available data, the base of intelligence has been founded. The essence of intelligent data is the algorithms and programs that can be operated in the system to use data in various databases to carry out some activities.

Jia stressed that the full condition of a truly large-scale change of the world is actually the emergence of a large-scale railway network which extends a wider range of markets. China can realize the foundation of modernization and industrialization. China's engineering capability decided that China's route to modernization and industrialization is different from Western countries.

In JIa's view, standardization, scale, systemization, digitization and intelligence promote modernization as dynamic mechanism. The modernization of the state governance system and governance capacity is an operating system that ensures standardization, scale, systemization, digitization, and intelligence to work its further functions.

Jia concluded that China had the conditions for fully carrying out the next round of modernization from three aspects: market, innovation and capital.