Hi! Welcome to “About China”! In today’s program, we will talk about “innovation-driven development”.
As one of the five concepts for development put forward by China’s leadership, innovation-driven development focuses on what drives China’s development. Consideredthe most critical growth driver, innovation should be encouraged so as to propel the country’s transition from an input-driven economy to one driven by innovation, and from relying on expansion of scale to increasing efficiency. Efforts should be made to accelerate the process of building a development model for an economy driven and sustained by innovation.
During the 13th Five-year Plan (2016-2020) period, China will rely on innovation to boost its growth and reinforce its creativity. It will foster new driving forces, and expand the space for development in its implementation of the strategy of innovation-driven development. Modernization of agriculture will proceed full steam ahead, together with initiatives to build a new economic structure and a new institutional base that facilitates development, and encourage innovative improvements in macro-regulation.
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