The Rise of China’s Innovation Economy

This open access book provides a comprehensive review of technological innovation in China, focusing on some existing challenges and the debate on the role of public policies in promoting innovation. Technological innovation has become a vital factor in promoting high-quality development in China. By examining the current state of and challenges confronting China’s technological innovation from both the supply side (talent and R&D) and the demand side (domestic and international demand), this book offers a view on how to enhance the efficiency of industry chain while ensuring security through innovation. Public policy often plays a crucial role in shaping and improving the national innovation system when new challenges emerge. We put special emphasis on innovation in strategically important sectors, which include the digital, green, and biotech industries, as well as the manufacturing and logistics sectors that are fundamental to the working of the whole innovation system.

This book explains academically rigorous content in a simple manner, and is therefore suitable for readers from the fields of public policy, economics, finance, and innovative sectors who seek to better understand China’s path of innovation. The book cites information from various credible sources, including academic journals, policy institutions, and a network of primary sources such as industry experts and renowned academics.

CICC Research was established at the inception of China International Capital Corporation (CICC) which is renowned for its emphasis on research. It was the first in China to establish a sell-side research framework, conduct research based on fundamental analysis, and set a cross-border research model of ＂One Team, Global Market＂. With its extensive coverage, rigorous research methods, independent and objective approach, and insightful forward-looking perspectives, CICC Research has positioned itself among the most influential research institutions in the domestic and foreign markets and has garnered the reputation of being ＂Chinese experts＂ among its clients.

Established in November 2020, the CICC Global Institute (CGI) is positioned as a new form of high-end think tank which is oriented to serving public policy research and decision-making. It focuses on economic and financial research, grasping the trends of frontier industries, and striving to establish a platform for communication between China and the world. CGI and CICC Research possess different sets of strengths, serving complementary roles in supporting China’s national strategy and CICC’s business development together.