Productivity is reflected in practical representations as the specific ability of humans to utilize and transform nature according to their own needs. Social development and progress are the results of iterative upgrading and catalytic fusion of productivity from old to new, from low to high. General Secretary Xi Jinping grasps the tide of scientific and technological revolution of the times, analyzes the situation of China’s economic development, grasps the strategic and historical initiative of Chinese path to modernization, and creatively puts forward the concept of new quality productivity. From its original meaning, new quality productivity is a new quality and high-quality productivity, represents a new type of leap that distinguishes itself from tradition and surpasses old quality productivity. It is a highly efficient and high-quality ability to utilize and transform nature, driven by strategic emerging and future industries under the guidance of technological innovation. It has the leading role of the new technological revolution and is a productive force driven by high-tech. It has the foresight of empowering new industries, and relies on emerging and future industries. It has the purpose of high-quality development and is a productivity that serves a high-quality and beautiful life. From a creative perspective, Xi Jinping’s theory of new quality productivity innovatively develops Marx’s theory of productivity quality with the theory of productivity new quality, enriches and expands Marx’s theory of productivity development with the theory of productivity factor innovation, and innovatively develops Marx’s theory of productivity progress with the theory of productivity level leap, which is the sinicization and modernization of Marxist political economy, and has opened up a new realm of sinicization and modernization of Marxist political economy. The proposal of the concept of new quality productivity reflects the new trend of productivity in the new era shifting from accumulation of quantity to the integration of quality driven by breakthroughs in quality. At the same time, the concept of new quality productivity achieves qualitative development of various elements of productivity, providing new ideas for the overall leap in productivity level. From the perspective of meaning, the core of new quality productivity is total factor innovation, the carrier is modern industry, and the purpose is high-quality development. In response to its fundamental and overall role, it has become the meridian that runs through the Chinese path to modernization system engineering. In the new era and new stage, the proposal, formation and development of new quality productivity will help promote industrial innovation with scientific and technological innovation, form new competitive advantages with industrial upgrading, accumulate new momentum of development, achieve high-quality development of China’s economy, and further help comprehensively promote Chinese path to modernization with high-quality development.