Promoting Innovation in China
China considers innovation be one of the key drivers of its future growth and convergence with more developed countries. It spends more than 2.2 percent of GDP on R&D, above the average for the European Union, is a global leader in domestic patents, and has developed groundbreaking advances in key sectors such as high-speed trains, e-commerce and mobile payments. However, the quality of patents has been slower to improve, Chinese firms remain dependent on foreign suppliers in a number of core high-tech components, and resources do not flow easily to more productive firms resulting in large productivity gaps between market leaders and remaining enterprises. In order to restart its productivity engine and support continued technological catch- up, China must revise its approach to innovation policy. This paper takes stock of China’s progress in building a modern national innovation (NIS) system, reviews international good practice in promoting innovation and shares policy recommendations to help China sustain its drive to become one of the global innovation champions.
| Main Author: | |
|---|---|
| Format: | Working Paper biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020-04-17
|
| Subjects: | INNOVATION POLICY, RESEARCH CAPACITY, GOVERNMENT REFORM, TECHNOLOGY DIFFUSION, PUBLIC EXPENDITURE, COMPETITION POLICY, STATE-OWNED ENTERPRISES, RESEARCH AND DEVELOPMENT, |
| Online Access: | http://documents.worldbank.org/curated/en/571611587708038991/Promoting-Innovation-in-China-Lessons-from-International-Good-Practice https://hdl.handle.net/10986/33680 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | China considers innovation be one of the
key drivers of its future growth and convergence with more
developed countries. It spends more than 2.2 percent of GDP
on R&D, above the average for the European Union, is a
global leader in domestic patents, and has developed
groundbreaking advances in key sectors such as high-speed
trains, e-commerce and mobile payments. However, the quality
of patents has been slower to improve, Chinese firms remain
dependent on foreign suppliers in a number of core high-tech
components, and resources do not flow easily to more
productive firms resulting in large productivity gaps
between market leaders and remaining enterprises. In order
to restart its productivity engine and support continued
technological catch- up, China must revise its approach to
innovation policy. This paper takes stock of China’s
progress in building a modern national innovation (NIS)
system, reviews international good practice in promoting
innovation and shares policy recommendations to help China
sustain its drive to become one of the global innovation champions. |
|---|