Abstract: The core of high-quality development lies in improving economic efficiency and national well-being, realizing the coordinated growth of productivity, real wages and enterprise profits.High-quality economic activities are the key to achieving high-quality development. High-quality economic activities have the characteristics of increasing returns, potential possibilities for productivity improvement and strong industry-driven effect. Through the synergy effect between departments with large space for productivity promotion and other departments, high-quality economic activities produce a large-scale spillover effect, and achieve efficiency improvement and real wage promotion. High-quality economic activities have three kinds specificity, which lies in industry and product, scale and structure, time and space. With the continuous evolution of technology-economy paradigm and the changes of international division of labor, trade system and financial system, the intension and mechanism of high-quality economic activities are also changed. Correspondingly, the selection, cultivation and maintenance of high-quality economic activities also need the support of various institutional arrangements.