The Research of the Evolution and Development Direction on Chinese Innovation Policy under the New Economic Momentum

Abstract

The Chinese government has been pursing upgrading its position in global industrial chain and supply chain system to enter a higher stage since the opening policy, even though the external environment is deteriorating constantly. And this intention is more obvious and accelerating without any stop in recent years. Objectively say this is one of the most exact and direct reasons why relationship of China-US is falling and is fulling of conflicts. Since March 2018, the US government has successively initiated and signed trade sanctions against China, what is indifferent from the past, those sanctions which essence is to suppress the ambition and plan of China's at the high-end manufacturing industry through trade and investment barriers, to curb China's rise. Meanwhile, various risks are emerging in the world, and the uncertainty factors brought about by the war are rising significantly, and public health security is still a potential threat to the world economy in the post epidemic era. In this context, in the face of the constant conflict between China and the United States in trade, Chinese enterprises can only transform and upgrade their innovation capabilities to become the best way to escape from vicious competition. Therefore, this paper through conducts a horizontal comparative study of China's innovation policy system since the reform and opening by using the trichotomy method, with reference to the research on the development process of innovation policy systems of major innovation countries in the world. At the same time, it objectively analyses and evaluates the achievements and problems of China's current independent innovation policy in practice. Furthermore, when China's economic momentum entered the critical period of transformation, that is, under the background that China will leap over the middle-income trap and enter the ranks of moderately developed countries, the paper analysed and concluded the core position of innovation in China's future economic momentum transformation and development, thus making a rational prediction of China's future economic development trend from the analysis of international economic trends against the critical moments of increasing global instability.