Report shows role of innovation in fostering global growth

The development of innovation competitiveness by G20 members is a top priority and the driving force for achieving global peace and prosperity, Chinese experts say in a report.

The Report on G20 National Innovation Competitiveness Development focuses on the level of such competitiveness, the character of change, intrinsic motivation and the strategic trends of each country - excluding the European Union - of G20 members in 2015 and 2016.

It was released last week in Beijing by the China Science and Technology Exchange Center, Fujian Normal University and the Institute for International Strategic Studies of the Party School of the Communist Party of China Central Committee.

The report evaluates and analyzes the status of development, revealing strengths and weaknesses as well as the character of change in each country. It provides basic paths and strategies to enhance competitiveness levels.

It shows that in 2016, the five nations that ranked highest in national innovation competitiveness were the United States, Germany, Britain, France and Japan. China ranked seventh in 2016, two places higher than the previous year, and was the only developing country in the top 10.

The report provides valuable theoretical guidance and decision-making references as it encourages G20 members to enhance their national innovation competitiveness, said Zhao Xinli, a fellow of International Eurasian Academy of Sciences.

For example, Zhao said, the report includes statistics and analysis on the technology investment of member states, and concludes that long-term investment in such areas puts developed countries in an advantageous position.

"The result encourages the large number of developing countries, especially the emerging economies, to pay close attention to input," he said. "Such investments can promote the continuous improvement of competitiveness."

Li Minrong, director of the China Institute of Science and Technology Evaluation, called the research objective and dynamic, and said it can provide feasible solutions for future innovation development.

Rather than using surveys, he said the report took data released by the United Nations, World Bank and other international organizations as evaluation indicators, thereby avoiding subjective judgments.

The conclusions describe not only the current situation but also forecast future development trends, Li said.

Zhang said the rise of online shopping and mobile payments in China is a good example of new technologies and new consumption models.

"We may be at the same starting line in new technology, whether in developed or developing countries," he said. "We need to see who will be the first to come up with new ideas and take action."

The report says awareness of how innovation drives development has been growing rapidly among developing countries.

The hope is that the report will encourage countries to make economic and social development the top priority and use innovation-driven development to do so, Zhang said.

He said innovations such as aviation technology and high-speed railways has lowered the cost of globalization and helped promote exchanges between countries, bringing vitality to economic development.

"Dynamic economies can promote the flow of people and goods. If someone tries to impede the flow, he is blocking the development of economies and society, which is against the historical trend and objective laws," he said.

"We hope that through support for long-term technological innovation and using experiences from various countries, the world will fully understand the laws of development, especially those that can't be resisted."