China Should Accelerate the Pace of Open Innovation According to World Bank Report
The speed with which China is changing is breathtaking. The world’s most populous country has the planet’s fastest growing economy and is undergoing what some commentators have described as a second industrial revolution.
To help its transition to a market economy a new research report calls for a shift in China’s development and growth model.
It lays out six strategic directions for the country’s future which includes accelerating the pace of open innovation.
The report, “China 2030: Building a Modern, Harmonious, and Creative High-Income Society” was put together by a team from the World Bank and the Development Research Center of China’s State Council.
It recommends that if China is to reach the goal of a high income country by 2030 it must strengthen its private sector and open its markets to greater competition and innovation, amongst other measures.
China’s leaders have recognized that the country’s growth model, which has been so successful for the past 30 years, will need to be changed to accommodate new challenges,” said World Bank Group President Robert B. Zoellick.
Global Innovation Links
The report states that an open innovation system in China would be a fundamental prerequisite for it to benefit fully from global innovation links. And that this shouldn’t just be restricted to manufacturing.
A culture of open innovation could also benefit the services and financial sectors. China 2030 calls for greater efforts to build countrywide research networks, measures to improve the quality of tertiary education and links with worldwide networks, supported by stronger rule of law and IP property rights.
You can read the full report and supporting material here.
Reader Comments
We are definitely seing signs of developent of the Open Innovatio practice in China and have listed a few facts on our blog.
http://www.idexlab.com/blog/open-innovation-china-transitioning-copycat-innovative-hub
best.
Posted by pierre on May 5, 2014
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