China Ranks 11th Among World's Most Innovative Economies

Muhammad Irfan Published January 03, 2025 | 12:30 PM

BEIJING, (UrduPoint / Pakistan Point News / WAM - 03rd Jan, 2025) China ranked 11th among the world's most innovative economies in the Global Innovation Index 2024 released by the World Intellectual Property Organisation, up one spot from the previous year thanks to the country's efforts in fostering new quality productive forces, said an official from China's top economic planner on Friday.

According to China Central Television (CCTV), Zhao Chenxin, Deputy Director of the National Development and Reform Commission, stated at a press conference on the achievements of high-quality development in China's economy in 2024 that the country's innovation capacity continued to be unleashed in 2024.

This was driven by the accelerated transition from old growth drivers to new ones, as well as the fostering of new, high-quality productive forces.

"On the one hand, the foundational system supporting comprehensive innovation is accelerating its improvement. The systematic construction of major technological infrastructure is progressing, with significant innovations such as the lunar exploration programme and heavy-duty gas turbines continuously emerging. As a result, China's Global Innovation Index ranking had risen to the 11th place in 2024," Zhao said.

He added that also the effects of innovation-driven development are continuously evident. Traditional industries are upgrading faster, emerging industries are developing rapidly, and future-oriented industries are under accelerated planning. The growth rate of added value in high-tech manufacturing has continued to outpace the overall growth rate of the manufacturing sector.