Recently, Li Xunlei, who serves as the Chief Economist at Zhongtai International and holds the position of Vice Chairman of the China Economists Forum, made a bold statement in a public address. He categorically dismissed the notion that China's real estate sector could be replaced by high - technology as complete and utter nonsense.

Li Xunlei is of the firm belief that for China to achieve economic transformation, it is still imperative to foster the growth of advanced manufacturing and high - tech industries. Nevertheless, he emphasized that in formulating the country's industrial policies, one cannot afford to overlook consumption in the relentless pursuit of manufacturing development.

Drawing an insightful analogy, Li Xunlei pointed out that high - technology and manufacturing industries can be likened to the human body's metabolic system, which is responsible for breaking down and utilizing nutrients for energy and growth. On the other hand, real estate and consumption form the circulatory system, which ensures the smooth flow of resources and sustenance throughout the body. Just as both systems are vital for the proper functioning of the human body, these two economic components complement each other and are indispensable for a healthy and thriving economy.