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Shanghai climbs to 5th place on innovation index
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SHANGHAI ranks fifth in the Asia and Pacific Knowledge Competitiveness Index this year due to its ability to transform innovation into economic growth, according to a report issued as the Pujiang Innovation Forum 2016 opened in the city yesterday.
Among 33 regions in Asia — covering China, Japan, South Korea, Australia, Singapore, India, Israel and New Zealand — Shanghai edged up from sixth last year, with Beijing sixth from seventh. Singapore topped the list.
Luo Shougui, director of the Asia and Pacific Unit at the Center for International Competitiveness, who led the research, said emerging economies were cutting the corner on innovation while some advanced economies were bearing the brunt of the economic downturn, “especially reflected in those relying heavily on traditional manufacturing, influenced obviously by demand and industrial fluctuations.”
Shanghai stood out in evaluations of industrial upgrading and entrepreneurship, ranking third and fifth respectively, which “back the city up on transforming technical innovation into economic value and citizens’ wealth and welfare,” the report said.
“This means Shanghai excels especially on injecting advanced technologies into traditional manufacturing. What’s more, it has abundant entrepreneurs to convert them into wealth,” Luo said.
Beijing, in contrast, exceeds on research investment, while relatively wanting on capabilities to integrate them into industries, the report said.
Shanghai seeks both technological and institutional innovations to drive the economy, Mayor Yang Xiong said at the forum’s opening ceremony, echoing its theme of the two innovations as “double engines for economic growth.”
The four-day forum will discuss intelligent manufacturing, entrepreneurship, policies, science and technologies, finance and culture.
More than 100 experts, officials and enterprises from 15 countries are attending to discuss how to integrate these elements into improving the economic outlook.
The report highlighted Shanghai’s competence on resource integration, which Yang took as the pivot for the city to propel the national economy.
In the past five years China has climbed to 18th from 20th in national innovative capacity, as the “technology sector has contributed 55.3 percent of the economy in general last year from 50 percent in 2010,” Wan Gang, China’s science and technology minister, said.
“Better performance in the future relies on comprehensive resource integration, involving technology, industries, management and culture upgrading,” Wan said.
Shanghai has continuously risen in the index ranking since its first release in 2010, which Luo said reflected the city’s long-term efforts on innovation.
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