The Real Engine of China’s Robust Economic Growth-More Mass and Rapid Transmission of Innovative Technology and Application

Abstract

AbstractThis paper has built on the fact that the economy of China has been growing with an increasingly rising speed, exploring the truth of driving forces behind the economy. Paper measures empirical research method. It contrasts the differences of results in economic development between technology innovation countries, like America and technology application ones, like China. Besides, it also compares technology absorptive capacity between China and India which are both blessed with large size of population. It tries to find the reason why the economic development and technological innovation is not synchronous. Importantly, this paper has given an outcome that innovative technologies demonstrated with wider acceptance and more rapid spread are likely to be the real engine of China’s economy rising again. Therefore, strengthening the cooperation between technology innovation states and technology application countries and creating an open environment which is embracing and disseminating innovative technology could boost economic growth for many nationalities.KeywordsNational economicsChina’s economyEmpirical research