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Innovation drives China's economy to refresh its endogenous power

Innovation-driven is the need for high-quality development


Since the 19th CPC national congress, the direction of high-quality economic development has been clearly defined, which means that China's economic development has shifted from "valuing quantity" to "improving quality", from "expanding scale" to "upgrading structure", and from "element driven" to "innovation driven", which are the needs of China's economic and social development in the new era.


The implementation of the innovation-driven development strategy is of practical significance for China to accelerate the transformation of economic development mode from "quantitative" to "quality and efficiency".The transformation of innovation results into real productivity can generate new industries, new business forms and new models.


Liu ying, a researcher at the chongyang institute of finance, renmin university of China, told the international business daily that in recent years, China has seen an endless stream of new industries, new business forms, new products and new models, and innovation-driven development has become the new normal of economic development.In the era of rapid development of the Internet, mobile Internet, Internet of things and artificial intelligence, the endogenous impetus driving China's economic growth is also quietly changing.


The size of China's digital economy was 27.2 trillion yuan in 2017, accounting for 32.9 percent of the country's gross domestic product, according to liu ying's analysis.The digital economy grew 20.3 percent year-on-year, higher than the growth rate of China's economy.The output of emerging industrial products has been growing rapidly, and a number of major scientific and technological achievements have emerged in the fields of aerospace, artificial intelligence and biomedical science and technology.The output of new industrial products such as industrial robots, civilian drones, new energy vehicles and urban rail vehicles increased by 68 percent, 67 percent, 51 percent and 40 percent year on year, respectively.The added value of strategic emerging industries grew by 11 percent year-on-year, 4.4 percentage points faster than that of industries above designated size.Scientific and technological innovation has contributed more than 53 percent to China's economic growth and has become the main driver of China's economic growth.


Liu ying believes that in the stage of high-quality economic development, China needs to take science and technology innovation as the leading role to promote economic development to achieve quality change, efficiency change and power change.Enterprises should be guided to upgrade traditional industries, technologies and equipment, promote in-depth integration of the Internet, big data, artificial intelligence and real economy, build a market-oriented technological innovation system, and enhance the endogenous power of economic development.


New technologies lead the development of high-end manufacturing


Manufacturing is not only the specific practice field of technological innovation, but also the core industry field of supply-side structural reform. Without strong manufacturing, high-quality economic development cannot be achieved.

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