Political Orientation and Economic Analysis of Current Scientific and Technological Innovation in Contemporary China
The overall economic momentum in China today is satisfactory. However, certain problems also exist, notably the low transformation rate of scientific achievements. In the context of international competition, China’s innovative power in science and technology has always been disadvantaged and marginalised. This has already affected the pace of economic development and the process of reform in the country. This article makes an economic analysis chiefly of the present-day scientific and technological innovations in China, and raises certain suggestions on related policies.
Looking at the Chinese scientific and technological milieu, it is easy to see that China cannot qualify as an information and technology innovation super power. Although the country has prioritised hi-tech and related industry development, has instituted the ‘863’ project1 and ‘Torch programme’2 as well as successively established 53 state-level high-tech industrial development zones, the development of the Chinese hi-tech and its industries do not have an optimistic outlook. In six areas, the author proposes solutions to promote scientific and technological innovations: 1. Tax incentive policy. 2. An intellectual property rights (IPR) protection system. 3. Public procurement policy. 4. Government control policy. 5. Venture capital policy. 6. Improvement of the social environment system.
