China'S Leading Global Innovation Economy

In April 20, 2008, the United Nations released the "2008 innovation economic report" in Garner, capital of Accra. This is the first research report of the United Nations on this emerging field.

The report, released during the twelfth session of the United Nations Conference on Trade and development, pointed out that the innovation industry is one of the most dynamic industries in Global trade.

From 2000 to 2005, the volume of trade in goods and services related to the innovation industry increased by 8.7% annually.

In 2005, the total exports of innovative products and services totalled US $424 billion 400 million, accounting for 3.4% of Global trade.

The report says that although there is no definition of a unified "innovation economy" or "innovation industry", it has an essential feature of "creativity", which can bring about technological progress and make enterprises and national economies have competitive advantages.

The innovative industries mentioned in this report cover cultural heritage, visual and performing arts, publishing, paper media, new media, design, and innovative service industries including advertising and construction.

The report also holds that some developing countries, especially the developing countries in Asia, have begun to benefit from the vitality of the global innovation economy and have formulated policies to support innovation industries.

The report also points out that China has taken the lead in the global innovation economy and has developed into the world's leading producer and exporter of value-added products by the year 2005.