Promoting Innovation in China : Lessons from International Good Practice
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 pat...
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| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/571611587708038991/Promoting-Innovation-in-China-Lessons-from-International-Good-Practice http://hdl.handle.net/10986/33680 |
| 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. |
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