In 10 years, the number of Chinese high-tech companies has increased from 49,000 to 330,000 and the country's R&D investments, which represented 1030 billion yuan (about $155 billion), have now reached 2790 billion yuan.
These figures are those of the Global Innovation Index, including the 2021 report published by the WIPO (World Intellectual Property Organization), which ranks China 12th in the world in terms of innovation. That is 22 places gained in 10 years.
According to the report among the top 10 most innovative economies in the world (out of 132 in the ranking) the USA is 3rd, the European economies are Switzerland, Sweden, the United Kingdom, the Netherlands, Finland, the Denmark and Germany, the two Asian economies are South Korea (5) and Singapore (8). India is only 46th and Japan 13th.
The 7 key criteria of the GII are the quality of infrastructures, the value of human capital and research, the efficiency of institutions, the maturity of the market, the maturity of the business, creativity, the production and dissemination of knowledge and technologies. Note on the details of the 7 criteria: China underperforms on the efficiency of institutions (61 st rank) and over-performs on the production and dissemination of knowledge and technologies (4 th rank ).
France is 11th. We are late explained a French member of the Chinese Business community.
To innovate is to know how to abandon thousands of good ideas said Steve Jobs.
