The theory of new quality productive forces is the latest achievement of Xi Jinping's Economic Thought, and its core connotation needs to be grasped from the following three perspectives: centering on technological innovation, innovative allocation of production factors, and green development. The theory of new quality productive forces constructs a theoretical system covering the core elements, supporting elements, and matching production relations system of new quality productive forces, which runs through its entire life cycle of production, development, and renewal. It has outstanding practical targeting and guidance, which can, to some extent, strengthen the advantage of latecomers in the economy and eliminate their disadvantage. Currently, technological innovation is the core element to strengthen new quality productive forces. The following four aspects of work should be focused on: 1) taking efficiency improvement in each link of basic research, applied research, and experimental development as the benchmark, to strengthen the cooperation between industry, academia, and research, and to enhance the efficiency of the scientific and technological innovation system; 2) paying attention to the expansion of the application of technology, especially new technologies and original research; 3) strengthening talent support strategies; and 4) building suitable new production relations. In terms of policy, it is necessary to adhere to a dynamic and systematic perspective and method, unify strategic thinking, engineer thinking, and industrial ecology thinking, and properly handle the relationship between the development of new quality productive forces and traditional industries.