Monday, March 13, 2006

Xinhua - English China seeks growth impetus from technological innovation

We have all pretty much heard that innovation in China is coming. In the last few months, "the blueprint of national economic and social development for the 2006-2010 period has been submitted to the ongoing annual session of the National People's Congress (NPC). This will see China speed up building an innovation-oriented country in the coming years. For example, The Chinese government will invest 71.6 billion yuan (8.95 billion U.S. dollars) to encourage innovation this year, 11.526 billion yuan (1.44 billion U.S. dollars) more than that in 2005, up 19.2 percent." However, where is all this spending being targeted? On a relentless pursuit of economic wealth?

Interestingly, "in terms of the cost efficiency of resources, China trails behind 53 others on a list of 59 countries, according to a research report on sustainable development released by the Chinese Academy of Sciences at the end of February". It would seem that the first clear innovation challenge for China is perhaps a more environmental sustainable one.

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