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China’s embrace of the market economy: understanding its innovation strategy

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European View

Abstract

The financial crisis now afflicting the world’s economies has Chinese leaders and citizens worried as the ripple effect from US markets aggravates already slumping Chinese markets. As the country attempts to improve its productive capabilities, enhancing China’s capacity to innovate remains a top priority. The author explores the initiatives which are being taken both within the country and abroad, illustrating how the country’s competences within the innovation, technology and research field are being reformed in order to shape China for the future.

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Notes

  1. The author attended this speech, but a full transcript is also available through China’s official news agency, Xinhua, at http://news.xinhuanet.com/english/2009-02/03/content_10753336_2.htm; accessed 5 February 2009.

  2. Ibid.

  3. The author visited a number of science parks and met with numerous officials and entrepreneurs in a series of meetings across China in May and September 2008.

  4. A Chinese word literally meaning ‘connections’. In practice, the phrase is often associated with the effort and utility of making and maintaining contacts in both local and national Chinese government departments and can describe the way that trust relationships are built up.

  5. The transition economies from stage one to stage two are assessed on the basis as having per capita incomes at $2,000 to $3,000, based on current exchange rates.

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Authors and Affiliations

  1. Centre of International Studies, First Floor, 17 Mill Lane, Cambridge, CB2 1RX, UK

    Paul C. Irwin Crookes

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Correspondence to Paul C. Irwin Crookes.

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Irwin Crookes, P.C. China’s embrace of the market economy: understanding its innovation strategy. European View 8, 133–141 (2009). https://doi.org/10.1007/s12290-009-0070-1

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