By Lu Wei, DRC

Innovation is an important theme of G20 Hangzhou Summit. At the meeting, President Xi Jinping emphasized that “innovation is the best key to growth”, and he proposed to construct an innovation-based world economy. G20 Hangzhou Summit released the blueprint for innovation growth of G20 countries, which points out the direction for addressing the world economic growth problems, and won high appreciation from the international community.

Innovation is an important driver as well as a pillar for the structural adjustment and sustainable development of the world economy. The key to constructing an innovative world economy lies in exploring innovative development modes, and new growth sources for the world economy. In building an innovative world economy, it is necessary for us to strengthen international cooperation to jointly cope with the global challenges, to create an ecological system conducive to innovation and the cross-border migration of innovation factors, and to improve the global innovation governance with a fair sharing of innovation benefits.

China has put innovation on top priority in overall development, and implemented an innovation-driven development strategy, which has effectively enhanced the national innovation level. China will follow and pay close attention to the development trend of the world science and technology and the new change of global industry competition pattern, do something to its credit in the new round of sci-tech revolution and industrial transformation, and make its due contribution to responding to the challenges facing mankind. China will make good use of and participate in the formulation of international rules, and play a more positive role in global innovation and governance affairs.

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