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In the past three decades, China has successfully transformed itself from an extremely poor economy to the world's second largest economy. The country's phenomenal economic growth has been sustained primarily by its rapid and continuous industrialization. Currently industry accounts for nearly two-fifths of China's gross domestic product, and since 2009 China has been the world's largest exporter of manufactured products. This book explores the question of how far this industrial growth has been the product of government policies. It discusses how government policies and their priorities have developed and evolved, examines how industrial policies are linked to policies in other areas, such as trade, technology and regional development, and assesses how new policy initiatives are encouraging China's increasing success in new technology-intensive industries. It also demonstrates how China's industrial policies are linked to development of industrial clusters and regions.
List of contents
Preface 1. Aspire to Innovate: Building an Innovative Economy 2. China’s National Innovation System 3. Fiscal Incentives for Innovation 4. Financial Policies for Innovation 5. The Public Venture Capital in China 6. Incentive for Sectoral Innovation: The Energy Sector 7. Incentives for Regional Innovation: The Yangtze River Delta 8. Performance of National Innovation System 9. Incentive for Innovation: Chinese Experiences
About the author
Xuedong Ding is Chairman and CEO of China Investment Corporation (CIC), Beijing, China.
Jun Li is a Senior Lecturer at Essex Business School, University of Essex, UK, and a Visiting Professor at the Business School of Jianghan University, Wuhan, China.
Summary
There is concern in China that the strategy which has delivered massive economic growth is unsustainable in the long run, that China’s economy is too dependent on low value added manufacturing and not enough based on high value technological innovation. This book assesses the policies implemented in recent years to address this.
