Xinhua| Editor – An| October 05, 2017:
A close China watcher said here Tuesday that if China keeps its current pace in innovative industrial development, the innovative activity share in its total output will likely surpass that of the United States in about 18 months.
Daniel Rosen, founding partner of Rhodium Group, said at a forum at Asia Society that in the second quarter of 2012, innovation accounted for 30 percent of total Chinese output, while today the share has come up to around 34 percent.
“It seems like a small difference, but was in fact very significant,” he said.
The innovative industry share in industrial value-added of the United States has been stable at about 34.5 percent over the past few years, while that of European Union and Japan stand at roughly 37 percent and 47 percent, respectively.
The study comes from an interactive online dashboard called The China Dashboard: Tracking China’s Economic Reform Program, a newly designed program by Asia Society Policy Institute and Rhodium Group that assesses the ongoing impact of economic reforms on Chinese growth potential.
Next week the dashboard will be made live, and an analysis of the data in the 10 areas will be published, which range from fiscal policy to domestic financial system reform to cross-border investment reform, Rosen said.
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