Recently, the key issue in Chinas economic development strategy has been innovation. While Chinas innovation strategy was particularly emphasized this year, it is actually not such a recent development. Since the mid-2000s, China has begun to pursue policies aiming to improve the innovation capacity of the Chinese economy, and has now established a certain level of foundation for innovation development.
In the 13th Five-Year Economic and Social Development Plan starting in 2016, China placed the innovation-driven development strategy as a top priority. Thus, mid-and long-term innovation policies including goals and plans for 2050, such as "the 13th Five-Year Plan for National Science and Technology Innovation" and "National Innovation-Driven Development Strategy Outline," were announced in this year. In addition, China has emphasized public innovation and entrepreneurship as the actors of innovation and has actively supported them, and has been promoting various types of innovation demonstration bases in 17 cities and plans to expand its experiences and achievement nationwide.
In the future, China will seek new and dynamic competitive advantages based on the enhancement of production quality and differentiation through innovation, in order to maintain the international competitiveness of the Chinese economy and to reduce energy, raw material consumption and environmental destruction. Of course, the recent series of innovation policies in China can be successful only when the innovation policy and legal system in each field are realized, the input mechanism for science and technology innovation is more complete, and the promotion and management of the plan are further strengthened. Therefore, we should pay attention to the future direction of Chinas innovation strategy and the related implementation process.