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TECHNOLOGICAL VECTOR OF CHINA'S ECONOMIC DEVELOPMENT
06.12.2023 12:39
[2. Экономические науки]
Автор: Anastasia Synytsia, Master’s Student, State University of Trade and Economics, Kyiv
China's economy has long been one of the fastest growing economies in the world, and as of 2023 will be the second largest after the United States. Today, there is competition between these countries in many areas, but one of the most important is technological development, because it can become the basis of China's supremacy on the world stage. In recent years, China's strategy has shown a pronounced focus on technological development, which is supported by state funding and business support. In this regard, there is a growing need for a more detailed analysis of China's technological development.
In today's changing world, awareness of the need for technological development occurs at all levels - from the enterprise to international organizations. There are different approaches to defining the concept of "technological development"
The analysis of different approaches to the definition of the concept allows us to conclude that the conclusion that technological development is a process of improving technology and processes that ensure the production of goods and services, as well as the management of information and communications. This process is based on scientific and technical discoveries that provide increased potential for strengthening socio-economic development, creating added value to products and services through the use of new technologies, processes and practices.
Technological development can be characterized by several key indicators:
1.Volumes of scientific and research works
2.Number of patents.
3.The level of investment in innovation
4.Development of artificial intelligence.
According to the ranking of the Global Innovation Index (GII) as of 2022, China ranks 11th.
Figure 1 – Ranking of China according to the Global Innovation Index
Source: compiled by the author based on the Global Innovation Ranking Reports for 2012-2022.
As shown in fig. 1, China's position has changed significantly over the past 10 years. Taking the 34th and 35th places in 2012-2013, we see a gradual approach to the top 10 countries according to the analyzed rating Most investments in research and development are directed to the field of production, computer, communication and other equipment, which amounted to 357.58 billion yuan as of 2021. In second place is the production of electric cars with investments of 181.81 billion yuan [2]. In China, there are many projects and programs aimed at supporting technological development. In particular, we note the following:
«Made in China 202» is a national strategy launched in 2015 that aims to make China a world leader in high-tech industries such as information technology, robotics, energy efficiency and biotechnology. The program offers a number of measures to ensure the development of the innovative economy, in particular, the financing of scientific research, the creation of startup incubators, the involvement of specialists from abroad, etc. [3].
«One Belt, One Road Initiative» – is an initiative launched in 2013 that aims to build a network of trade and infrastructure in countries in Asia, Europe and Africa. The initiative envisages investments in projects for the construction of roads, railways, gas pipelines, ports and other infrastructure projects. In this way, China hopes to increase its technological potential and become a leader in the field of transport and infrastructure [4].
China supports many start-up incubators that promote the development of innovative technologies. For example, the city of Shenzhen is home to TechHive, one of the largest startup incubators in the world, which focuses on the development of innovative products and services in the field of information technology [5].
«Artificial Intelligence 2.0» is a national program that aims to support the development of artificial intelligence in China. The program envisages investments in scientific and research work, introduction of artificial intelligence technologies in industry, support of start-ups and development of qualified personnel. According to Chinese officials, the Artificial Intelligence 2.0 program aims to make China a world leader in artificial intelligence by 2030.
«New plan for the development of information technologies 2021-2025» – this program is aimed at the development of artificial intelligence technologies, including the development of machine learning algorithms, neural networks and distributed computing. As part of the program, startups developing artificial intelligence technologies will be supported.
One of the main weaknesses of China's technological development is insufficient innovation activity compared to developed countries. Chinese companies often work on the basis of copying other people's technologies, rather than creating their own. Another weakness is the insufficient number of highly qualified scientists who can help in the innovation process. Many young Chinese choose careers in other fields than in science and technology. In addition, intellectual property is not always protected in China, which can lead to a loss of trust from companies in other countries and a decrease in investment.
The analysis made it possible to identify the key trends of China's technological development, which consist in strengthening support for technologies, increasing investments in research and development, and the availability of state programs for the innovative development of many areas. Today, China has significant results in improving the level of technology and competes with the developed countries of the world. Along with the positive trends characterizing the researched area, certain challenges facing the state should be noted: a relatively low level of intellectual property protection, uneven development in different regions of the country, insufficient quality of products, etc. But China's technological vector continues to push the economy forward, strengthening its competitive position.
References
1.Statista. – URL: https://www.statista.com/statistics/234726/research– and– development– spending– in– china– by– industry/
2."Made in China 2025"– URL: http://www.gov.cn/zhengce/content/2015– 05/19/content_9786.htm.
3."One Belt, One Road"– URL: https://www.fmprc.gov.cn/mfa_eng/zxxx_662805/t1468350.shtml.
4.TechHive– URL: https://www.techhive.cn/.
5.Daitian Li, Tony W. Tong, Yangao Xiao– URL: Is China Emerging as the Global Leader in AI?https://hbr.org/2021/02/is– china– emerging– as– the– global– leader– in– ai
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Науковий керівник: Саркісян Лариса Геворгівна, кандидат економічних наук, доцент, Державний торговельно-економічний університет
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