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Innovation contributes more to China's growth: official

2017/12/27 10:16:51   source:China Plus

A leading Chinese official is suggesting technological upgrades through this year have accounted for a larger percentage of China's overall growth.

Wang Zhigang, Vice Minister of Science and Technology estimates that 57.5 percent of China's economic increase this year will be contributed by technological improvements.

This figure rose up from 56.2 in 2016 and is approaching those of top innovative countries globally.

It's also reported that China has become the world's second largest investor in research and development.

The money China poured in technological advancements last year accounted for more than 20 percent of the world's total.

Breakthroughs have been made in key areas including quantum communication computers, power transmission, hybrid rice and satellite navigation, among other areas.

Wang Zhigang says building an innovative country is a crucial strategic measure for China.

"Speeding up the construction of an innovative country is significant to China's aim to move into a modernized power. Technology is like a strong weapon. Every superpower in this era is, without exception, a technology powerhouse. Hence, a sound innovation development will put China on track to overall modernization. Otherwise, China would fall behind and miss this window of great development opportunity," Wang said.

Looking into the future, Wang Zhigang says the integration of technology and the digital economy, as the core of innovation, should be further strengthened.

"Technological innovation should be combined with development of the internet, big data, artificial intelligence and the real economy. For example, fields like information networks, intelligent manufacturing, modern agriculture, and modern energy are where innovative efforts should be concentrated. New techniques and new industry fusion method can be adopted to upgrade traditional industries. Meantime, we should popularize technological innovation to support the development of new industries," Wang noted.

Currently, China is focusing on new research areas, including energy, life science and particle physics.

Scientific centers distributed across the nation are also being designed to try to facilitate the process.

Wang Zhigang adds that the construction of a world class innovative team should also be prioritized.

"First, put elite innovative talents into our best technology teams. Cultivate or recruit talents and talent groups of different areas. Second, target frontline of world innovation development to train potential young and middle-aged talents. Create a promotion channel for them. Third, encourage innovative talents to start up tech-oriented businesses," Wang said.

Wang says more can be done to increase tax breaks to support tech firms, as well as step up protection of intellectual property rights.

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