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China Moves Higher in Innovation Ranking    [Date Added : 09/01/2017 ]
China has improved its world's innovation standing - now ranking 17th on an index measuring the innovation capability of 40 major ranked countries. The National Innovation Index Report 2016-2017 by the Chinese Academy of Science and Technology for Development (CASTED) shows the top five countries as the United States, Japan, Switzerland, the Republic of Korea and Denmark. China has moved one place higher in 2016, surpassing Belgium. It is the only developing country among the top-20 on the index. China has set the goal of lifting its overall national innovation capability to 15th or above by 2020.

Data shows China's research and development expenditure accounted for 15.6 percent of the world total, ranking second only to the United States. China has closed the gap to the United States compared to the previous index. The number of Chinese Science Citation Index (SCI) papers reached 281,000, there were about 968,000 applications for invention patents filed in the country, and 263,000 invention patents were issued, all ranking China first globally, according to the report. 

Wu Ishan, vice president of CASTED, said that with continuous injection of innovation resources and deepening reform in the science and technology system, China's innovation efficiency and capability would continue to improve.

The National Innovation Index contains five sub-indices, which measure knowledge innovation, business innovation, innovation resources, innovation performance, and innovation environment.
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