Chinese-Style Innovation and Its International Repercussions in the New Economic Times

• Main Authors: Zhifeng Shen, Ahsan Siraj, Hongbing Jiang, Yongming Zhu, Junjie Li
• Format: Article
• Language: English
• Published: MDPI AG 2020-03-01
• Series: Sustainability
• Subjects: new economic era; chinese-style innovation; governance model; economic development model; international repercussions; china
• Online Access: https://www.mdpi.com/2071-1050/12/5/1859

Innovation is the powerful headspring that makes the economy and society continue with sustainable development, and how to innovate is a current research issue all over the world. The purposes of this research are to examine Chinese-style innovations and to analyze the influence of Chinese-style innovation on the international market in the current economic times. From multiple perspectives of institutional innovation as well as scientific and technological innovation, the content, characteristics and connotation of Chinese-style innovation are comprehensively expounded and analyzed through the collection, combination and exploration of innovation, especially in Chinese-style innovation literature and interviews with relevant scholars, experts and enterprises. Then, the fit of Chinese-style innovation and characteristics of the new economic era are systematically described. Based on the exploration of international repercussions of Chinese-style innovation from both macro and micro aspects, the mechanism of Chinese-style innovation’s influence on China’s international market is also analyzed. In China, the underlying concept has not been well investigated before, therefore there is a gap in which to do research in this area. In accordance with the current research, a conceptual model for the new economic era, Chinese-style innovation and China’s international repercussions is established. This study finds that the influence of Chinese companies in research and development has significantly improved, the all-round and multi-domain pattern of Chinese enterprises’ overseas development has gradually taken shape, Chinese companies’ overseas social responsibility is growing, the overseas competitiveness of Chinese companies has gradually increased, the overall strength of China’s science and technology has gradually gained international recognition and its international repercussions have improved significantly.