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Innovations key for China's future growth, high-tech exports: report

Xinhua, January 3, 2016 Adjust font size:

Experts highlighted the strength of innovation for China's economic growth in future, according to a report on Sunday, while hailing the country's expansion of high-tech exports in Asia.

"Innovations on science and technology, management as well as institution will be the core impetus for China's future growth." Gu Qingyang, associate professor of the Lee Kuan Yew School of Public Policy of National University of Singapore, was quoted as saying by People's Daily.

China's increased support on innovations during the past five years played a rather active role in its industrial upgrading, Gu said, adding that more investments are expected in this respect.

Of all Asian countries, China's share of high-tech exports hit 43.7 percent in 2014, ranking the first, according to an Asian Development Bank (ADB) report.

High speed train, nuclear power and satellite equipments are among the most popular Chinese high-tech exports in Asian market, Zhuang Juzhong, deputy chief economist of the ADB, was quoted as saying. Endi